Banks: Closures and Shared Banking Hubs - Question

Part of the debate – in the House of Lords at 11:07 am on 27 April 2023.

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Photo of Baroness Penn Baroness Penn The Parliamentary Secretary, HM Treasury 11:07, 27 April 2023

My Lords, a process has been put in place to allow communities to make the case through LINK for where they need access to further services, and there is a commitment that if something is deemed necessary, it will be implemented. The noble Lord is right that it is essential that the interests of consumers are properly considered in all areas of financial services. There is the new consumer duty, which is due to be implemented later this year and will take forward some of his suggestions.