LONDON (Reuters) – Britain’s financial regulator on Wednesday asked banks to review their approach to account denials and closures and ensure vulnerable consumers aren’t losing out.
The Financial Conduct Authority (FCA) said it had found no evidence of accounts being closed due to lawfully expressed political opinions in 2023.
But in a new report, it urged account providers to do more to support those who want a bank account but don’t have one – and reminded providers that they should act in line with their obligations.
(Reporting by Sinead Cruise and Kirstin Ridley, Editing by Louise Heavens)
