Published: 5th Oct 2016

Postcodes that suffer last-bank-in-town closures lose around £1.6m in lending A two-tier financial system now exists in the UK, says Fionn Travers-Smith There is a growing orthodoxy that bank branches are a thing of the past, and that mainstream banks are justified in closing them en masse. After all, when was the last time you visited a bank branch? It’s not surprising that the demise of bank branches seems inevitable in a society that has lost more than half of them in the last 30 years. What is perhaps more surprising is how willing we have been to believe the banks’ justifications for closing them, without taking a more critical view. It’s almost as if, as a society, we have internalised the banks’ narrative to such an extent that the mainstream has begun to parrot it back to them, and to us. In fact, the arguments … (To read the full article, subscribe below)