Paul Girvan
Main Page: Paul Girvan (Democratic Unionist Party - South Antrim)Department Debates - View all Paul Girvan's debates with the HM Treasury
Royal Bank of Scotland Branch Closures
Paul Girvan Excerpts(1 month ago)
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Deidre Brock
I agree with my hon. Friend. He is absolutely correct. I think everyone else here agreed with him as well.
Existing legislation to protect against bank branch closures is far too weak. The Financial Conduct Authority has some powers to protect cash services but not bank branches. Yet, in 2019, the FCA’s own research found that bank branch closures presented particular challenges for older people who would have to travel further to reach a branch. It also said that older people were less likely to turn to mobile banking, which increased their risk of financial exclusion. But it seems the banks can just follow the tick-box guidance and then fire ahead with the closure anyway. We must introduce a community right to physical banking services. I commend the work of my hon. Friend the Member for Inverness, Nairn, Badenoch and Strathspey (Drew Hendry) to introduce a Bill for such a measure. I hope for cross-party consensus to take forward something similar.
I am curious to hear whether the Minister thinks bank branch closures conflict with the Equality Act 2010—specifically part 3, which states that service providers must ensure equal access to services for all individuals? We already have all the evidence we need of the impact on communities, on older people, on people with disabilities, and on small businesses that rely on cash trade.
Paul Girvan (South Antrim) (DUP)
There are banks that say that they are offering another service because they will work with banking hubs, but those banking hubs are not there all the time. They work just the hours that suit them, so they do not give accessibility to all. It just suits the banks to tick a box to say that they are available.
Deidre Brock
Yes, the hon. Gentleman is quite right, and there are delays around those hubs, which I will reference later in my speech.
Research from Which? Found that 65% of consumers would find life difficult without the option to access their bank branch. Age UK says that four out of 10 over-65s do not manage their money online. We also know that paper documents are just preferred by many people, and can help them keep track of their finances better.