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Old 03-07-2023, 10:08 PM #23
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The Culture Secretary has said she is concerned banks may be closing customer accounts for political reasons following claims from Brexiteer Nigel Farage.

Lucy Frazer said it is something banks "should be thinking about carefully".

Last week, Mr Farage said his bank was closing his accounts, claiming it was "serious political persecution" from an anti-Brexit banking industry.

The government is investigating payment providers over account closures.

Last year, Paypal closed accounts run by Toby Young, who is general secretary of the Free Speech Union. They were later reinstated by the US payments company.

The government subsequently announced a review into payment services regulations, including the practice of firms apparently closing down the accounts of people or businesses that hold views the lender does not agree with.

Ms Frazer told LBC, the radio station: "I'm concerned people's accounts might be closed for the wrong reasons and it's something they [the banks] should be thinking about carefully.

"Banks are regulated, and those are the sort of things regulators should consider."

Mr Farage said that he was told two months ago that his bank, who he did not name but is understood to be Coutts, was closing down his personal and business accounts.

The BBC has approached Coutts' parent company Natwest for comment.

https://www.bbc.co.uk/news/business-66090522


lets see if labour also denounce it
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