Bank Services
The question
To ask the Chancellor of the Exchequer, if her Department will conduct a review of the level of in-person banking provision.
Answered by Rachel Blake
The Government is committed to ensuring that people can continue to access in-person banking services. That is why, on 14 May, the Government commissioned an independent Review into Access to Banking Services, chaired by Richard Lloyd OBE.
The Review will assess the impact of changes in the provision of in-person banking services across the United Kingdom, including the scale and nature of any detriment to consumers arising from a lack of access, with a particular focus on vulnerable groups. The evidence gathered will inform decisions on whether future action is needed.
The Review will seek input from market participants and consumer representatives, and may also consult Government and regulators.
The Government will consider the Review’s findings carefully and will update the House in due course. Alongside this, the Government intends to include a power in forthcoming financial services legislation to enable it to act, if necessary, to protect access to banking services.
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