LOCAL BANK BRANCH CLOSURES

Motion Text

That this House condemns the decision of the majority state-owned RBS Group to close 259 branches, covering its RBS and NatWest brands; notes that those closures bring the total number of local bank branch closures to over 1,000 since 2015; further notes that such closures are expected to result in 680 job losses; is concerned of the effect that those closures will have on the access to banking services for communities across the UK; notes that vulnerable people and rural communities rely on physical branches to access basic banking services; notes that the Unite Union has accused RBS of decimating the network and betraying communities; notes that such closures highlight the need for a publicly-supported, community-based bank network; calls on the Government to explore the possibility of a Community Reinvestment Bill, which would encourage depository institutions to help meet the credit needs of the communities in which they operate; and further calls on the Government, as the majority shareholder of RBS Group, to act to reverse those closures and ensure there is necessary access to banking services for all.