David Chadwick has submitted applications for new banking hubs in four towns across his constituency, saying urgent action is needed to support communities left behind by branch closures.

The Brecon, Radnor and Cwm Tawe MP told the House of Commons this week that the current framework for approving banking hubs is “far too restrictive” and urged the Government to go beyond its existing pledge of 350 hubs nationwide.

“I have submitted applications for new hubs in Pontardawe, Brecon, Presteigne and Builth Wells, each of which has a clear case,” he said.

“We need a system that supports those applications, instead of holding them back through outdated rules and artificial limits.”

Mr Chadwick said the success of the newly opened hub in Ystradgynlais shows how the model can deliver for communities and local businesses.

“That hub is now open and working, providing an essential service to residents and small businesses, many of whom were previously facing long and expensive journeys just to access basic banking services,” he said.

“The local response has been overwhelmingly positive, with many residents saying that the bringing back of those banking services is the first time they have seen their community restoring services in many years.”

He praised the staff at Link and the regulator for working constructively to make the Ystradgynlais hub a reality and said the Government should be doing far more to back similar projects.

“If the Government are looking for ways to win back favour, surely committing to more banking hubs must be one of them,” he added.

Mr Chadwick also used the debate to criticise the actions of the major banks, particularly Lloyds, which is due to close its Pontardawe branch later this year.

“In Brecon, we have one final bank branch remaining. In Hay-on-Wye - a town blessed with a bustling high street and a number of independent businesses - not a single bank remains,” he said.

“Elsewhere in Radnorshire, Presteigne saw its last bank close earlier this year, and Rhayader is troubled by community bankers who do not wish to visit it,” he told MPs.

He accused banks of abandoning customers while continuing to post massive profits. “They say they have no option but to close these branches because of the digital transformation. Yet some of them cite statistics showing that up to 50 per cent of their customers still need physical services.”

Mr Chadwick singled out Lloyds CEO Charlie Nunn, who he said took home £5.6 million last year, despite closing more than 140 branches and raising the company’s dividend by 13 per cent.

“Who would now deposit their life savings with someone that offers to meet them in a car park once a week?” he said.

“That is what Charlie Nunn... has done to his customers in Presteigne, Brecon, Ystradgynlais and now Pontardawe.

“Does he know the misery he has caused people in doing so? Will he stop the closure of the Pontardawe branch – something that more than 500 local residents have called on him to do?”