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Bank Branch Closures

Part of the debate – in the House of Commons at 2:23 pm on 30th June 2016.

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Photo of Gareth Thomas Gareth Thomas Party Chair, Co-operative Party 2:23 pm, 30th June 2016

In the United States, when banks take significant deposits from particular communities, they are required by regulators to demonstrate that they are offering significant financial services to those communities in return. Does the hon. Gentleman think that such a requirement might have meant that his Glastonbury constituents might have had some confidence that the banks were at least going to help a credit union or community bank to get up and running, to offer an alternative service if those banks were still determined to leave?