Site icon Global Banking Monitor

Debanking Unraveled: A Recap of Events and Current Standing of Banks

Photo by Robert Bye on Unsplash

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 accounts.

The issue came to the fore after Mr Farage claimed Coutts, a high-net-worth bank owned by NatWest Group, moved to close his account because they disagreed with his political beliefs.

Read More : Debanking Unraveled: A Recap of Events and Current Standing of Banks

Exit mobile version