LSB welcomes updated branch closure guidance

The LSB welcomes the updated guidance from the FCA on branch and ATM closures or conversions. The updates to the regulatory guidance capture and build on the existing good practice set out in the requirements of the Access to Banking Standard in a manner that will ensure enhanced protections for customers that rely on branch services.

As set in December 2021, when we published our recommendations following our review of the Standard, the LSB believes that the best outcome for customers will now be achieved by the FCA taking forward its work and continuing its supervisory activity in the space.

Given the high level of customer protection now being provided by the FCA, the LSB will shortly begin working with firms and UK Finance to support an orderly winddown of LSB oversight of the Access to Banking Standard.

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