Government 'Takes Action' Amid NatWest, Santander and Lloyds Closures
The review will examine closures at major banks and whether new laws are needed, as more than 230 banking hubs open nationwide.
- HM Treasury has launched an independent review of face-to-face banking access, aiming to protect communities amid rapid branch closures across the UK.
- Major banks including Lloyds Banking Group, Santander, and NatWest are shutting branches at a rapid pace, citing a shift toward digital banking as customers increasingly move online.
- Cash Access UK has opened 237 banking hubs meeting 95% of customer needs, though critics argue these shared spaces cannot adequately replace full-service branches in isolated areas.
- The Financial Services and Markets Bill provides ministerial powers to intervene, while credit union reforms announced in the King's Speech aim to expand access to affordable financial services.
- Richard Lloyd OBE, former interim Chair of the Financial Conduct Authority, will lead the review and deliver recommendations to government by October 2026.
26 Articles
26 Articles
Government reviews access to face to face banking services
An independent review will look at how shifts in face-to-face banking services affect people and communities, with new powers enabling the Government to act on what it finds. Lucy Rigby, Economic Secretary to the Treasury, has commissioned independent review to protect access to face‑to‑face banking across the UK.
UK government launches review of face-to-face banking access
Ministers have begun an independent examination of access to face-to-face banking services across the UK, alongside plans to introduce powers that would allow intervention where local provision is under threat. The step comes amid a marked shift in how retail banking is used, with more customers managing their finances online. Banks and building societies have adjusted their branch networks in response to those changes in behaviour, but the r…
HMT publishes Terms of Reference for the Access to Banking Services review
On 14 May 2026, HM Treasury (HMT) announced an independent review (the Review) into access to banking services and published terms of reference (TORs) for this review.BackgroundHMT highlights in the TORs that while access to cash is protected by legislation and the Financial Conduct Authority has responsibility and powers to ensure reasonable provision of cash withdrawal and deposit facilities; there are currently no existing protections for the…
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