MSP welcomes move to protect Moray's last banks
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A MORAY MSP has welcomed a report urging the UK Government to seek assurances from banks that they will not close "the last branch in town".
The Scottish Affairs Committee at Westminster has recommended new action from the UK Government to protect remaining bank branches.
The committee is urging the government to seek a commitment from banks that they will not leave towns without a bank – and legislation should be in place to halt banks which refuse to do so.
The SNP's Richard Lochhead said: "Communities and businesses in Moray have been hit hard in recent years by bank closures – having lost 40 per cent of our high-street branches.
"Banks have abandoned our local communities at such a rate that we are left with a ridiculous situation where there’s not a single bank branch in Speyside, and recently Lossiemouth lost its last bank branch too.
"The Conservative UK Government has failed to intervene to stop the complete decimation of rural banking services and the Scottish Affairs Committee is right to demand action to protect remaining services.
"For a long time rural communities in Moray have been calling for the UK Government to take steps to stop banks from closing the last branch in town, which is something I’ve also called for, so I welcome the fact that this is one of the report’s recommendations.
"I hope that the Conservative government will finally take some notice and stop sitting on its hands. This is a huge issue for communities in Moray and the time for action was long ago."
Scottish Affairs Committee chairman Pete Wishart MP said: "It is disgraceful that banks think they can abandon Scottish towns with no access to essential financial services."
ATM provider Link also announced funding to protect free access to cash for every high street in the UK after the report.
Charity Age Scotland is calling on banks to "be bold and not leave older customers behind" by developing shared banking hubs to allow customers better access to their money and financial advice.
