3rd Report - Royal Bank of Scotland branch closures

Summary written by Accountability Index from the government's response. It is not the government's own words.

The government disagrees with the recommendation to pressure RBS over its closure programme, partly agrees on monitoring the Lending Standards Board, and strongly agrees on raising awareness of Post Office banking.

• On using its majority shareholding to press RBS to reconsider closures, it says it "disagrees", stating that it "would be inappropriate for Government to seek to influence the day-to-day management of the bank branch network".
• It "partly agrees" on monitoring the Lending Standards Board and "will continue to monitor" the Access to Banking Standard and LSB oversight of it.
• It does not "believe there is a case for introducing a scheme of statutory regulation", saying commercial firms are best placed to make commercial decisions.
• It "strongly agrees" on improving awareness of Post Office bank services. The Post Office and UK Finance "plan to launch these activities in the Autumn of this year", and the government will monitor them "very closely".

Read the government's response ↗ Report an error