HM Treasury has commissioned an independent Access to Banking Review to assess how changes in face-to-face banking, including branch closures and the shift to digital services, are affecting people and communities across the UK. Its findings will inform a power that the Treasury plans to include in the Financial Services and Markets Bill so the government can act if access to banking services is found to be at risk. Richard Lloyd, a former Which? executive and former Financial Conduct Authority board member, will chair the review and deliver a report and recommendations by October 2026. The work will gather evidence on the real-world impact of branch closures, identify who is most affected, and assess where further action may be needed. HM Treasury said access to cash is already protected and that more than 275 banking hubs have been announced, with more than 230 open, but there are no equivalent protections for wider face-to-face banking services. The Bill will also take forward some of the credit union common bond reforms announced in March, intended to make it easier for credit unions in Great Britain to expand and broaden their membership.
HM Treasury 2026-05-14
United Kingdom's HM Treasury commissions independent review of access to face-to-face banking to inform planned intervention power
HM Treasury has commissioned an independent Access to Banking Review to assess how branch closures and the shift to digital services are affecting face-to-face banking across the UK, with findings to inform a new power in the Financial Services and Markets Bill enabling government intervention if access is at risk. Chaired by Richard Lloyd, the review will examine impacts on different groups and where further action may be needed, against a backdrop of protections for access to cash but not wider in-person services. The Bill will also advance credit union common bond reforms to support expansion and broader membership.