David Fishwick Live On B B C Breakfast Talks About The New Remastered Netflix Series Bank Of Dave

Summary

David Fishwick, a businessman from Burnley, took on the challenge of establishing his own community bank, Burnley Savings and Loans, to address the needs of those unable to borrow from traditional banks. His story inspired the film 'Bank of Dave' and a documentary that has been remastered and released on Netflix. The series highlights the importance of community banks in providing affordable credit and explores the current banking crisis, with banks collapsing in 2023. Fishwick's efforts have lent over £30 million to individuals and businesses, showcasing the potential for community-focused banking as a viable alternative to the traditional system.

Takeaways

• 🚀 David Fishwick, a businessman from Burnley, decided to address the banking crisis by setting up his own community bank, Burnley Savings and Loans, which has now been remastered and is available on Netflix.
• 🎥 The original documentary following David's journey, which inspired the film 'Bank of Dave', has been updated and released on Netflix, showcasing the ongoing relevance of community banking.
• 🏦 The series highlights the need for community banks, especially in the wake of the 2008 financial crash and the current banking crisis in 2023, where high street banks are struggling again.
• 💰 David's bank has lent over £30 million to individuals and small businesses that could not secure loans from traditional high street banks.
• 📈 The documentary features Diane, who received a loan from Burnley Savings and Loans to expand her dog bakery, emphasizing the positive impact of community banks on local businesses.
• 🇺🇸 'Bank of Dave' has gained popularity in the UK and has been released for a cinematic screening in the USA, with David invited to promote it.
• 🎤 Dave's story has reached Parliament, with discussions on the importance of community-focused banks and non-bank lenders in providing affordable credit.
• 📉 The script mentions the recent banking issues, such as Silicon Valley Bank and Credit Suisse, and the withdrawal of $100 billion from American banks in one week due to fear of a bank run.
• 💸 Dave advocates for individuals to become their own banks, managing their savings and loans to offset debts and mortgages, instead of relying on traditional banks that offer minimal interest.
• 📊 The script contrasts the current low-interest rates on savings accounts with the high inflation rate, highlighting the diminishing value of money saved in traditional banks.
• 🤝 Dave's ongoing efforts include meeting with politicians and treasury secretaries to promote the model of community banks as a solution to the banking crisis.

Q & A

Who is David Fishwick and what did he decide to do in response to a problem?

David Fishwick is a businessman who decided to tackle the problem of banking by setting up his own bank, inspired by the 2008 financial crash.

What is the film 'Bank of Dave' based on?

The film 'Bank of Dave' is based on the true story of David Fishwick, a minibus dealer who set out to do a better job than the country's top bankers by establishing his own community bank.

How has David Fishwick's journey been documented and shared with the public?

David Fishwick's journey has been documented in an original documentary which has been remastered and is now available on Netflix.

What is the significance of the re-release of the series about Burnley Savings and Loans?

The re-release of the series is significant as it highlights the ongoing relevance of community banks, especially in the context of banks collapsing in 2023, emphasizing the need for community-run financial institutions.

How has Burnley Savings and Loans benefited local businesses like Diane's?

Burnley Savings and Loans has provided loans to local businesses, such as Diane's dog bakery, enabling them to grow and expand when they couldn't get support from high street banks.

What is the total amount of money that Burnley Savings and Loans has lent to people and businesses?

Burnley Savings and Loans has lent over 30 million pounds to thousands of people and businesses.

Why is Dave Fishwick going to the USA?

Dave Fishwick is going to the USA because the 'Bank of Dave' movie has been successful on Netflix and has received a cinematic release there. He has been asked to help publicize it.

What concerns does Dave Fishwick raise about the current banking system?

Dave Fishwick raises concerns about the lack of lending by big banks, the high interest rates, and the bonus culture that led to banks going bust while bankers received large bonuses.

What is Dave Fishwick's suggestion for individuals to take control of their financial future?

Dave Fishwick suggests that people should become their own banks by taking responsibility for their savings and using it to pay down loans, similar to an offset mortgage, to avoid paying high interest rates elsewhere.

What is the current situation regarding the UK banking system according to the Bank of England?

According to the Bank of England, the UK banking system is well capitalized and efficient. However, there have been significant withdrawals of cash from American banks, indicating fears of a bank run.

What is the next step for Dave Fishwick and his advocacy for community banks?

Dave Fishwick is meeting with the Treasury Secretary following a promise by Rishi Sunak, to discuss the potential for community banks like Burnley Savings and Loans to be the way forward for the financial system.