[Mr Graham Brady in the Chair] — Rural Bank Closures

Part of the debate – in Westminster Hall at 9:30 am on 21 February 2012.

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I congratulate the hon. Gentleman on securing this debate; he has made some pertinent points. Last month I had a letter from my bank, HSBC in Y Tymbl. It is closing, so perhaps I should declare an interest.

This issue affects valley communities, as well as rural areas. What thought has the hon. Gentleman given to alternative banking models such as credit unions? In Ireland and the USA, for example, those are mainstream institutions, rather than being banking for the poor as they are in Wales at the moment. They also perform an important economic function by lending to small businesses. Could that be part of the solution?