Government to Clamp Down on ‘Unfair’ Bank Account Closures With New Rules

The City of London financial district is seen in London, Britain, on Oct. 22, 2021. Hannah McKay/Reuters

Banks will be forced to explain and delay any decision to close an account under freedom of expression protection rules, according to the government.

On Thursday, the Treasury said that it has stepped in to “address fears that banks” are terminating accounts because they disagree with someone’s political beliefs.