3,858 debanking complaints filed with UK's Financial Ombudsman in 23/24 financial year, a 44% increase from the previous year and 69% over three years.
UK's Financial Ombudsman received 3,858 debanking complaints during the 2023/24 financial year, up 44% from the previous year and 69% over three years. The increase in complaints, particularly from small businesses, has raised concerns about legally operating businesses being unfairly debanked. This issue gained traction after Nigel Farage accused Coutts, owned by NatWest, of attempting to close his account due to his political views.
April 21, 2024
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