Bank branch closures in low income communities and rural areas are leaving people unable to access basic financial services - Responsible Finance

Posted On: 
19th December 2018

Banks should have greater obligations to transparently assess the impact of branch closure on local communities, before taking a final decision about closure, says Responsible Finance.

Bank branch closures in low income communities and rural areas are leaving people unable to access basic financial services. 

Elderly people are some of the most negatively impacted as many still rely on bank branches. 

Many rural areas suffer from poor internet connectivity, compounding the impact of branch closures as people are unable to reliably access online banking services. 

Banks should have greater obligations to transparently assess the impact of branch closure on local communities, before taking a final decision about closure.