Commission calls for banking 'firewalls' to protect savers from risky investment operations

High Street banking should be shielded in future, to protect it and us, from the dangers of another financial crisis.

An interim report by the Independent Commission on Banking said retail operations should be kept separate from higher risk investment banking.

The commission also said there needs to be more competition on the High Street.

That could include the part-nationalised Lloyds banking group having to close more of its branches.

Simon Gompertz reports.