All the updated news related to debanking

All the news related to debanking updated in real time

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City

NatWest says no evidence of discrimination in Coutts bank account closures

NatWest Group has said there is no evidence of discrimination due to political views in Coutts’ decision to close customer accounts, an independent review of the bank found. Coutts closed about 900 accounts over a two-year period, including those of ...

15 Dec 2023 at 11:21

City

Financial watchdog to ask MPs about debanking experiences

British politicians are to be asked to reveal whether they have encountered any problems accessing bank accounts or faced being “debanked”, as part of an inquiry by the UK’s financial watchdog. The Financial Conduct Authority (FCA) said it is ...

15 Aug 2023 at 10:54

City

The debanking saga: What happened and where do the banks stand now?

UK banking rules are in the midst of a shake-up after a turbulent year which saw former Ukip leader Nigel Farage spark a crisis at one of Britain’s largest banks. The so-called debanking row led to a clampdown on unfair closures of customer ...

24 Dec 2023 at 02:45

City

Major UK banks shut down more accounts last year amid debanking row, bosses say

Some of the UK’s biggest banks have said they closed more accounts last year than in 2022, but that in most cases it was not because of concerns about a customer’s reputation. Barclays, Santander, Lloyds and NatWest also called on social ...

21 Mar 2024 at 09:18

City

NatWest boss admits ‘unexpected challenges’ for bank in 2023

The chairman of NatWest has said the banking sector is “evolving rapidly” as he acknowledged that the lender faced “unexpected challenges” during 2023. Rick Haythornthwaite, who stepped into the role earlier this month, addressed the ...

23 Apr 2024 at 13:37

Hunt pledges law change to stop de-banking for ‘wrong political views’

The Government has pledged to change the law to prevent people being de-banked for having the “wrong political views”. It plans to amend existing rules to ensure banks, building societies and other financial services firms are not ...

03 Oct 2023 at 08:53

City

Key findings in the Financial Conduct Authority’s debanking report

The UK’s financial watchdog has produced a report into bank account closures and access, finding that there is no firm evidence of banks closing accounts because of people’s political views. The Financial Conduct Authority (FCA) ...

19 Sept 2023 at 14:39

City

Ordinary people offered ‘no lifeline’ in debanking scandal, says lawyer

The UK’s financial regulator has been accused of focusing on “debanked” politicians while moving more slowly on helping around 340,000 other people whose bank accounts have been closed in the past year. On Tuesday the Financial ...

06 Sept 2023 at 11:19

‘Not that difficult’ to get on property ladder, NatWest chief claims

It is not “that difficult” to get on the property ladder in the UK, the chairman of NatWest has claimed. Sir Howard Davies, chairman of the major retail bank, said prospective buyers have to save, and that “is the way it ...

05 Jan 2024 at 13:51

UK customers being debanked over costs and reputation worries, MPs say

UK banks could be wrongly labelling customer accounts as a fraud risk to cover up concerns about costs and their reputation, a group of MPs have argued in a study into debanking. Some customers are being “wrongly ...

21 Feb 2024 at 12:42

City

More than 140,000 businesses debanked by major lenders over past year, MPs say

More than 140,000 business accounts were closed by major banks in the past year, as they moved to clamp down on financial crime and get rid of unused accounts, new data has shown. A group of MPs on the Treasury ...

27 Feb 2024 at 22:30

City

Ex-NatWest boss Dame Alison Rose takes on role after quitting over debanking row

Former NatWest chief executive Dame Alison Rose has been appointed at a private equity firm nearly a year after resigning from her post at the helm of the lending giant over the Nigel Farage debanking scandal. ...

11 Jun 2024 at 16:36

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