Airdrie Savings Bank

EDM number 880 in 2016-17, proposed by Neil Gray on 24/01/2017.
Categorised under the topic of Financial services.

That this House notes with concern the closure of Airdrie Savings Bank (ASB); understands that ASB was the last survivor of the UK’s independent savings banks and acknowledges the work done to support local community groups and initiatives; recognises that the people who ran ASB, many of them on a voluntary basis at board level, are now having to face this closure given the very tight regulatory regime that now exists for banks in the UK; understands the consequences of the 2008 financial crash have meant that it has become impossible for small banks, such as ASB, to survive; further notes with concern that up to 70 members of staff will lose their job over the next few months; and urges the Scottish and UK Governments and all relevant agencies to support those affected by the closure.

This motion has been signed by a total of 29 MPs.