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Labour to make UK bank closures illegal.

Global Banking News-April 14, 2017--Labour to make UK bank closures illegal

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Global Banking News - 14 April 2017

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UK shadow chancellor, John McDonnell, is of the opinion that rules can be amended to make bank closures illegal.

Figures from Consumers Association suggest that 1,046 local bank branches closed in the UK between December 2015 and January 2017, and another 486 are to be closed this year.

Labour's figures suggest that over two thirds of small businesses have said that a local branch is important to them. However, the British Banking Association has said that forcing unused services to remain in place is 'unsustainable.'

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Publication:Global Banking News (GBN)
Date:Apr 14, 2017
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