FCA confirms improved access to cash following first year of new rules
The Financial Conduct Authority (FCA) has announced that a year on from the introduction of the FCA’s new regulatory regime to protect access to cash for consumers and business, 121 banking hubs and 93 cash deposit services have been set up, including 20 hubs established following community requests for cash access assessments. The FCA will hold discussions with stakeholders later in the year to consider what is working well and how access to cash can continue to improve, with future forums broadening the scope to include wider banking services. Any changes to the FCA’s powers over access to cash or banking services would have to be implemented by the government.