Revelations 18:23 ‘For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’
Important Takeaways:
- Barclays to close 160 branches in 2022: 28 more closures announced
- Since the start of 2022, the bank has already closed dozens of its branches. Based on its current schedule, by the end of the year it will have closed 160 sites.
- Barclays told us more of its customers were doing their banking via digital channels, and less than 10% of its transactions were done in person.
- Barclays confirmed to Which? it has 50 pop-up sites in local spaces, such as community centers, libraries and business hubs. It says it will look at solutions in future that will be part of a ‘flexible sustainable model’, such as smart ATMS, which can do more than just dispense cash.
- While proposals put forward by the banking industry to protect access to cash, such as enhanced Post Offices, were welcome, government legislation to underpin them was vital.
- ‘Now that legislation has been announced, the government must hand the Financial Conduct Authority the powers to ensure that when local communities lose a bank branch, their cash needs are still met.’
Read the original article by clicking here.
The chief executive of Barclays is out after allegations that he was involved with a scheme to manipulate interbank lending rates. Although the government could not produce evidence that Bob Diamond was personally involved with the scheme, Diamond was encouraged to resign to keep from “damaging the franchise.”
