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Review to examine bank branch closure impacts and identify those most affected

The Independent·Vicky Shaw·18 days ago
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A review to help protect access to face‑to‑face banking across the UK is being launched. Commissioned by Lucy Rigby, Economic Secretary to the Treasury , the review will gather evidence on the impact of branch closures, identify who is most affected, and look at where further action may be needed to protect access to banking services. It follows the announcement of the Enhancing Financial Services Bill in the King’s Speech, in which the Treasury intends to include a power to be able to act swiftly if the evidence supports intervention on access to banking services. Many bank branches have vanished from high streets over the years as people turn to digital ways to manage their finances. Banking hubs, where several banks share a single space, have been helping to plug the gaps, alongside post offices, where many customers can do their day-to-day banking over their counters.…

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