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We are actively engaged in the current debate on the future of cash. While recognising the drivers towards digital banking, we are concerned that insufficient attention is being given to the needs of vulnerable groups as bank branches and ATMs become less accessible. Following the publication of her research "When I'm 84". Locking the Door on the Older Old: the Challenge Facing Britain's Banks on the needs of an ageing population, our senior associate Hilary Cooper prepared a detailed response to the FCA's consultation paper on the ageing population and submitted evidence to the House of Lords select committee on financial exclusion, drawn on in their report and recommendations. Professor Griggs also reproduced our findings on the risks faced by older consumers in his 2016 report evaluating the operation of the Access to Banking Protocol.
In 2019 we were cited in the final report of the Access to Cash Review, chaired by Natalie Ceeney, having made detailed representations both to that review and a Treasury Select Committee call for evidence on the same issue. Our detailed argument and views on the policy response that we think is now needed can be found here. A brief summary of our research findings on the drivers of financial exclusion of those in older age can be found in this blog for the Oxford Institute of Population Ageing: Is Age a Factor in Financial Exclusion?