Letter: How banks have been called to account in the community

THE consultation paper by Don Cruickshank is timely (Inquiry shock for banks, January 20). One of the major obstacles to the regeneration of our most deprived communities is the lack of understanding shown by the financial services industry to the needs of small business and social enterprises. Acco...

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Bibliographic Details
Published inThe Guardian (London)
Main Author MP, GARETH R THOMAS
Format Newspaper Article
LanguageEnglish
Published London (UK) Guardian News & Media Limited 28.01.1999
Subjects
Banking industry
Community development
Financial services
Letters to the editor
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Summary:THE consultation paper by Don Cruickshank is timely (Inquiry shock for banks, January 20). One of the major obstacles to the regeneration of our most deprived communities is the lack of understanding shown by the financial services industry to the needs of small business and social enterprises. According to the Office of Fair Trading, 22 per cent of bank branches closed between 1989 and 1996, making access to seed-corn capital that much more difficult. There is also a strong correlation between areas of deprivation and those communities without access to a bank branch.
ISSN:0261-3077