The board of North Lanarkshire Municipal Bank has decided that the bank will close in 2022.The decision follows changes in the way banks must carry out anti-fraud and money laundering measures and customer due diligence over the last decade.The high costs of changing these procedures for a small bank, estimated to be a substantial six-figure sum, would be prohibitive.The Lanarkshire Live app is available to download now.
Get all the news from your area – as well as features, entertainment, sport and the latest on Lanarkshire’s recovery from the coronavirus pandemic – straight to your fingertips, 24/7.The free download features the latest breaking news and exclusive stories, and allows you to customise your page to the sections that matter
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