NatWest: Sheffield - Question to the Treasury

Jared has asked ‘To ask the Chancellor of the Exchequer, if his Department will meet with representatives of NatWest to discuss the potential effect on that bank's elderly and vulnerable customers of the proposed closure of its Millhouses branch in Sheffield’

This was asked on 13/03/2018

John Glen responded with ‘The decision to open and close a bank branch remains a commercial judgement for banks, which the Government does not intervene in. However, the impact on communities must be understood, considered and mitigated where possible.

The Access to Banking Protocol Standard commits banks to ensure personal and business customers are better informed about branch closures and the reasons for them closing, along with the options they have locally to continue to access banking services, including specialist assistance for customers who need more help. The Access to Banking Standard is monitored and enforced by the independent Lending Standards Board.

The independent financial services regulator - the Financial Conduct Authority (FCA) - requires firms to treat their customers fairly, including the elderly and the vulnerable, and has broad and robust powers to enforce breaches of its rules. The FCA’s Handbook requires firms to identify particularly vulnerable customers, and to deal with such customers appropriately.’

This was received on 20/03/2018

Jacob Millen-Bamford