Of course Nigel Farage is just one of thousands of people – and small businesses in the UK – who have had their bank accounts closed with no explanation as to why. Maybe there will be some new government and FCA guidance on the right to hold a bank account in an amended version of the new Consumer Duty? There’s also the issue of GDPR breaches to BBC (or other) journalists to consider. Perhaps that needs a serious investigation like the cake party and its associated Whatsapp messages? Meanwhile, here is a statement from the FCA;
Commenting on today’s announcement from the NatWest Board regarding recent allegations, Sheldon Mills, Executive Director, Consumers and Competition said:
“We have raised concerns with NatWest Group and Coutts about the allegations relating to account closures and breach of customer confidentiality since these came to light. We made clear our expectation that these issues should be independently reviewed and note today’s statement from the NatWest Group Board confirming this will happen. It is vital that the review is well resourced and those conducting it have access to all the necessary information and people in order to investigate what happened swiftly and fully.
“On the basis of the review and any steps taken by other authorities, such as the Financial Ombudsman Service or Information Commissioner, on relevant complaints, we will decide if any further action is necessary.”
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