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The FCA and PSR have published a joint response to the Cash Action Group’s (CAG) announcement that retail banks and building societies will create an independent body to assess the cash needs of local communities.
It’s crucial that access to cash is maintained for those who need it. We are pleased to see firms taking steps to maintain access to cash and we will be watching as the initiative develops.
Individual firms remain responsible for assessing the impact that closures may have on their customers and for considering what alternatives could reasonably be put in place. Ahead of future legislation, we will continue to supervise firms to make sure customers are treated fairly and to monitor access to cash to ensure that where infrastructure is removed, suitable alternatives are made available where needed.
Read the full statement here.