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flag UK's Treasury Committee reports 140,000 business accounts closed by banks in 2023.

flag UK's Treasury Committee found over 140,000 business accounts were forcibly closed by banks in 2023, with 2.7% of the 5.3 million accounts held by small-to-medium businesses affected. flag The reasons provided by banks for the closures included risk appetite, financial crime concerns, and lack of information-sharing. flag The committee also highlighted concerns about banks giving a range of reasons for closing accounts with little notice.

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