Jane Dodds MS calls for action on cash access in rural Wales amid bank closures

Tindle News

Jane Dodds has asked the Welsh Government what it is doing to ensure there is access to cash in rural communities, amid ongoing bank closures.  In the Senedd this week, the Mid & West Wales MS made mention of the upcoming closure of Brecon’s Lloyds Bank.  Video from Senedd.tv

Transcript

00:00I'd like to request two statements, if I may.

00:04One from the Cabinet Secretary for Economy, Energy and Planning with regards to rural

00:09banks.

00:10Lloyds Bank have announced a third closure in Brecon and Radnorshire.

00:14They've closed one in Ystradgynlais, one in Prestein, they're intending to close one in

00:17Prestein and another one in Brecon.

00:19Lloyds Bank made a profit of £7.5 billion last year, up from £4.8 billion the year

00:28before.

00:29This is not a bank that is struggling.

00:31This is a bank that owes their communities, banks that meet their needs.

00:36So I'd like to ask the Welsh Government exactly what they're doing in order to ensure that

00:40there is access to cash within our rural communities.

00:44And secondó Jane Dodds, thank you for drawing attention

00:49to the vast profits of Lloyds Bank as banks continue to draw out of our communities, come

00:57out of our communities, closing bank-to-bank branches.

01:01Three hundred and seventy-six bank branches have closed in Wales since January 2015, and

01:08that's such a loss to those highly valued services, and you draw attention particularly

01:13to the needs of people in rural communities.

01:16So we've been championing the specific needs of Welsh communities, looking at accessing

01:22cash and face-to-face banking services.

01:24Of course, now the Cabinet Secretary for the Economy is taking on these responsibilities.

01:30And working, of courseóit's an issue of social justice as well, in terms of access to financial

01:36services and financial inclusion.

01:40We have banking hub roll-outs, and I'm pleased that the UK Government has said they want

01:45to see a network of banking hubs expanded, but also look at our relationships with the

01:53Financial Conduct Authority, Link and Cash Access UK.

01:56They're championing the needs of sections of the population who rely most on accessing

02:01cash and face-to-face banking services.

02:04But also, we are working with many of our banking partners in Wales, those who are responsible

02:16lendersónot just our credit unions, which, of course, are across Wales, but also those

02:22responsible lenders, like the Principality Building Society, who are trialling the One

02:28Bank.

02:29So, we've also done all our work on the community bank as well.

02:33So, Diolch yn fawr, my questionó Y Llywydd ar gwrs, diolch yn fawr i'r Prif Weinidog.

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