Last bank in town plan launched

The party's 'last bank in town' scheme is being spearheaded by campaigners in the Black Country, who want to see a new law enforcing strict regulations around branches closing.

It comes in the wake of a series of closures by the country's major banks, which saw 800 branches disappear in 2017.

They included Lloyds branches in Codsall, Brewood and Stafford, while NatWest are planning to cease operations in Bilston, Fordhouses and Kingswinford later this year.

Lib Dem campaigner Paul Butters said he wants the new legislation to only permit the bank closures following a local consultation, local council agreement and with the permission of the Financial Conduct Authority.

He has called on Westminster politicians to propose the plan as a Private Members Bill.

"Many of these branches are the last bank in town," he said.

"When these banks leave an area they leave elderly people stranded, businesses without local banking on their doorstep and they hurt communities. We are seeing these branches close at an alarming rate.

"What sticks in the throat is these banks came cap in hand to us, taxpayers, for a bail out a few years ago and now they have taken the cash and are shutting up shop. Our plan will make sure that communities are really listened to and have a proper say.

"It’s time for these mega-rich banks to listen to their customers who value their local branches and call a halt to these damaging closures.”