UK Banks to Be Summoned to Treasury Meet After Farage Uproar

The UK's Treasury will request explanations from 19 banks and fintechs, such as NatWest, Lloyds, HSBC, and Barclays,...

– on how they will prevent "de-banking" customers for their lawful expression of free speech.

– The issue arose after Nigel Farage, a prominent Brexit champion, claimed that Coutts, a UK bank owned by NatWest, was planning to close his account due to his personal views.

– Prime Minister Rishi Sunak criticized Coutts' decision on Twitter, and Elon Musk supported the Prime Minister's stance.

– The banks will be asked to demonstrate how they will ensure customers' access to payment accounts without fear of repercussions for their lawful expression.

– Farage expressed his intent to fight the situation and compared potential social media checks on bank accounts to a "Chinese style social credit system."

– The Treasury's move aims to address concerns of potential discrimination based on customers' expressions of free speech and safeguard their banking rights.

– The situation has drawn attention to the intersection of free speech, banking services, and social media scrutiny.

The UK's Treasury plans to summon leaders of 19 banks and fintechs, including NatWest, Lloyds, HSBC, and Barclays

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