Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether he plans to review the Access to Banking Standard.

The Government recognises that branch closures can be difficult for the customers affected and urges the banks to consider these concerns when making decisions on their branch network. That is why Government supports the Access to Banking Standard, and makes clear to the banks and building societies who have signed up that they should participate genuinely and with the spirit of the agreement, not just the letter, in mind.

The Government supports the Lending Standard’s Board’s monitoring and enforcing of the Standard, and welcomed their recent report on firms’ compliance with its requirements. The Government considers the current scheme of oversight to be working effectively at present.

The Government will continue to monitor the effectiveness of the Access to Banking Standard, and Lending Standards Board oversight of it, to ensure that it continues to strike the right balance between providing commercial flexibility and consumer protection.