Saturday, February 4, 2023
198 China News
No Result
View All Result
  • HOME
  • VIDEOS
  • BUSINESS
  • NEWS
    • CHINA USA TRADE NEWS
    • CHINA AFRICA NEWS
    • CHINA EU NEWS
    • CHINA GULF NATIONS NEWS
    • CHINA RUSSIA NEWS
    • CHINA NIGERIA NEWS
    • CHINA INDIA NEWS
    • CHINA UK NEWS
  • POLITICAL
  • IMMIGRATION
  • TECHNOLOGY
  • VENTURE CAPITAL
  • MORE NEWS
    • JOINT VENTURE
    • UNIVERSITIES
    • EDUCATION
    • MEDIA TRAINING
    • MANUFACTURES
    • BUSINESS HELP
    • 198TILG CHINA CEO
  • Contact us
  • HOME
  • VIDEOS
  • BUSINESS
  • NEWS
    • CHINA USA TRADE NEWS
    • CHINA AFRICA NEWS
    • CHINA EU NEWS
    • CHINA GULF NATIONS NEWS
    • CHINA RUSSIA NEWS
    • CHINA NIGERIA NEWS
    • CHINA INDIA NEWS
    • CHINA UK NEWS
  • POLITICAL
  • IMMIGRATION
  • TECHNOLOGY
  • VENTURE CAPITAL
  • MORE NEWS
    • JOINT VENTURE
    • UNIVERSITIES
    • EDUCATION
    • MEDIA TRAINING
    • MANUFACTURES
    • BUSINESS HELP
    • 198TILG CHINA CEO
  • Contact us
198 China News
No Result
View All Result
Home BUSINESS NEWS FROM AROUND THE WORLD

Watchdog looking at fines for banks to stop high street closures

by 198 China News
August 11, 2021
in BUSINESS NEWS FROM AROUND THE WORLD
2 min read
0
Share on FacebookShare on TwitterShare on eMail

[ad_1]

Banks may face fines or be blocked from closing branches beneath plans to guard money use.

Metropolis watchdog the Monetary Conduct Authority (FCA) is reportedly contemplating new guidelines to cease banks from shutting excessive road branches to make sure customers and companies can nonetheless entry money.

It comes as greater than 4,200 branches have now shut since 2015 – with 801 closing since lockdown restrictions have been enforced in March final yr.

Campaigners have lengthy known as for pressing motion to protect cash and notes for the tens of millions who depend on them.

Chancellor Rishi Sunak pledged to introduce legal guidelines to guard money entry final yr, and final month the Treasury lastly launched a session into how the laws may work.

Proposals embody handing the FCA powers to advantageous banks that shut branches the place they’re most wanted, and the regulator could even be allowed to implement injunctions and cease some closures from going forward in any respect.

The plans may additionally see 9 out of ten neighbourhoods given the authorized proper to be inside 0.6 miles of someplace they will take out money freed from cost.

The session will run till September 23 however any new legal guidelines may take at the least two years to implement.

Business consultants have instructed Cash Mail that the Treasury is unlikely to view money machines as an equal substitute to the face-to-face service branches provide.

The session additionally goals to make sure ‘cheap entry’ to locations the place folks can deposit money – a service which most ATMs outdoors financial institution branches don’t present.

Gareth Shaw, head of cash at client group Which?, says: ‘The federal government’s proposal to place the FCA accountable for the money system, together with holding business accountable for offering entry, is a crucial step. As money machine and financial institution department numbers proceed to say no sharply, the federal government’s laws plans can’t be launched quickly sufficient.’

A Treasury spokesman mentioned: ‘We all know that money stays important for tens of millions of individuals and we’re dedicated to defending entry to money throughout the UK.’

A UK Finance spokesman mentioned rising numbers of consumers have been turning to new expertise to handle their cash, together with on-line and cell banking.

However he added: ‘Know-how isn’t for everybody and financial institution branches proceed to play an essential function within the lifetime of native communities, that means selections to shut them are by no means taken flippantly.’



[ad_2]

Source link

Tags: BanksclosuresfineshighstopStreetwatchdog
Previous Post

Russian economy shows moderate growth – OECD — RT Business News

Next Post

Iran’s supreme leader concerned with COVID-19 ravaging Iran

Related Posts

BUSINESS NEWS FROM AROUND THE WORLD

FTX in joint offer to buy Voyager Digital’s assets

by 198 China News
July 23, 2022
BUSINESS NEWS FROM AROUND THE WORLD

Saving for your next car

by 198 China News
July 23, 2022
BUSINESS NEWS FROM AROUND THE WORLD

Food industry wants Ottawa to intervene as grocery code of conduct talks bog down

by 198 China News
July 22, 2022
BUSINESS NEWS FROM AROUND THE WORLD

Vince McMahon retires as WWE CEO after sexual misconduct probe

by 198 China News
July 23, 2022
BUSINESS NEWS FROM AROUND THE WORLD

Fed rate hike: Powell seen slowing Fed hikes after 75 basis points next week

by 198 China News
July 22, 2022
Load More
Next Post

Iran's supreme leader concerned with COVID-19 ravaging Iran

Briton arrested in Germany accused of spying for Russia

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Home
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • Cookie Privacy Policy
  • Contact us

Copyright © 2021 198 China News.
All Rights Reserved.

No Result
View All Result
  • Home
  • VIDEOS
  • BUSINESS
  • CHINA USA TRADE NEWS
  • CHINA AFRICA NEWS
  • CHINA EU NEWS
  • CHINA GULF NATIONS NEWS
  • CHINA RUSSIA NEWS
  • CHINA NIGERIA NEWS
  • CHINA INDIA NEWS
  • CHINA UK NEWS
  • POLITICAL
  • IMMIGRATION
  • TECHNOLOGY
  • VENTURE CAPITAL
  • UNIVERSITIES
  • MEDIA TRAINING
  • EDUCATION
  • MANUFACTURERS
  • JOINT VENTURE
  • BUSINESS HELP
  • 198TILG CHINA CEO

Copyright © 2021 198 China News.
All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In