Treasury to tell big lenders they must not ‘de-bank’ customers over their political views as City minister Andrew Griffith gets set to ‘read the riot act’ to bank bosses at meeting
- Representatives from 19 banks and financial services firms have been invited
- NatWest chief executive Dame Alison Rose is also due to attend the summit
The Treasury will today haul in bank bosses to warn them they must not ‘de-bank’ customers over their political views.
City minister Andrew Griffith has invited representatives from 19 banks and financial services firms to attend the summit, which NatWest chief executive Dame Alison Rose is due to attend.
A Treasury source said Mr Griffith would ‘read the riot act’ to bank bosses about their attempts to police the views of customers.
Ministers announced plans last week to change the law to require banks to give customers three months’ notice before closing accounts.
They will also be forced to explain their reasons for seeking to close an account – something Coutts refused to do in the case of former Ukip leader Nigel Farage – giving customers a chance to appeal.
City minister Andrew Griffith has invited representatives from 19 banks and financial services firms to attend the summit (File Photo)
Ministers announced plans last week to change the law to require banks to give customers three months’ notice before closing accounts (Stock Image)
The parliamentary summer recess means that the change in the law cannot now be introduced until the autumn.
But Mr Griffith will warn the banks to start applying it immediately on a voluntary basis.
He is also expected to raise concerns about the existence of secretive committees established to monitor the views of customers.
‘He is going to read the riot act to them,’ a source said. ‘There is a lot of concern about what has been going on. It is not just about the treatment of Farage – it is the precedent that it sets.’
NatWest chief executive Dame Alison Rose (pictured) is also due to attend the meeting (File Photo)
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