Britain makes it tougher for banks to close branches

Banks in Britain must comply with tougher rules from September that require them to delay branch closures until they can show regulators that local communities would still have free access to an alternative provider of cash.

The Financial Conduct Authority (FCA) published final “access to cash” rules on Tuesday after lawmaker concerns that vulnerable people, and those living in rural areas, face difficulties obtaining cash to pay for their shopping and services when a branch is shut.

Source: REUTER