Holyrood to probe demise of Airdrie Savings Bank
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Last month the bank – the last surviving independent savings bank – announced it is winding down with the potential loss of 70 jobs.
The regulatory burden faced by small lenders and the costs involved in investing in new technology were among the factors blamed for the decision.
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Hide AdThe Scottish Parliament’s economy, jobs and fair work committee will hear from chief executive Rod Ashley together with Professor Charles Munn of the University of Glasgow and Wendy Dunsmore of the Unite union.
It will look at how the bank was affected by the financial crisis and whether current regulations are a barrier for challenger banks. The committee will also look at lessons learnt for the financial sector, including credit unions.