UK Government Summons Top Bank Executives to Address Concerns Over Account Closures Due to Political Views
The Treasury has summoned top bank executives for a meeting to address concerns over the closure of accounts due to political views, following a row between Nigel Farage and NatWest.
The move comes after City Minister Andrew Griffith expressed "significant concern" over allegations of "client de-banking" and vowed to take action to protect freedom of expression.
The government had already been looking into the issue, but the Farage row has brought attention to the claims.
The new rules, set to be introduced after the summer, will require banks to give notice periods of at least 90 days before closing an account and explain their decision to customers.
The move follows the release of a document revealing that Coutts, owned by NatWest, closed Farage's account due to his "publicly stated views."
The government had already been looking into the issue, but the Farage row has brought attention to the claims.
The new rules, set to be introduced after the summer, will require banks to give notice periods of at least 90 days before closing an account and explain their decision to customers.
The move follows the release of a document revealing that Coutts, owned by NatWest, closed Farage's account due to his "publicly stated views."
