Chancellor Urged to Probe Regulator Over Debanking Scandal

Tory politicians and finance experts have written to Jeremy Hunt after claims banks are closing 1,000 accounts a day

Chancellor of the Exchequer Jeremy Hunt speaking during the British Chambers Commerce Annual Global conference, at the QEII Centre, London, on May 17, 2023. Jordan Pettitt/PA Media

A group of Conservatives and finance experts have urged the chancellor to investigate the banking regulator over the UK’s debanking scandal.

In a strongly worded letter sent to Jeremy Hunt on Monday, the prominent group accused the Financial Conduct Authority (FCA) of attempting to force a “change in culture and diversity of thought” in banks and finance firms.