Regulatory Alerts2021-09-01
FSCA Communication 18 of 2021 on Bank Branch Closures and ATM Removals
The Financial Sector Conduct Authority mandates that banks notify the regulator at least six months before closing branches or removing ATMs. Banks must perform robust customer impact analyses, submit clear summaries of the findings, and communicate accessible alternative service channels in writing or digitally. The regulator will evaluate these submissions to guarantee fair customer outcomes and adequate transition periods before finalizing closure decisions.
Share