Banks face Treasury clampdown following Nigel Farage account closure row
· 19.07.2023 · 15:03:49 ··· ··· Wednesday ·· 3 (3)
Sky News Banks will be forced to give customers three months' notice of account closures and to provide a full explanation of the reasons under reforms that could be unveiled in the coming days.
Sky News has learnt that the Treasury plans to force British lenders to be more transparent with customers amid an escalating freedom of expression row triggered by Coutts' termination of its relationship with Nigel Farage, the former UK Independence Party leader.
Sources said the proposals, which would require secondary legislation, are likely to be announced in written ministerial statement by Andrew Griffith, economic secretary to the Treasury.
Read more: https://news.sky.com/story/banks-face-treasury-clampdown-in-farage-account-closure-row-12923558
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