Wednesday, December 6, 2023
  • About
  • Advertise
  • Careers
  • Contact
4press
  • Home
    • Home – Layout 1
    • Home – Layout 2
    • Home – Layout 3
  • News
  • Politics
  • Business
  • Culture
  • Opinion
  • Lifestyle
  • Login
No Result
View All Result
4Press
Home Investigation

Investigation Launched into Unlawful ‘De-Banking’ as Concerns Grow over Disproportionate Impact on Specific Communities

admin by admin
August 5, 2023
in Investigation, Uncategorized, Unlawful 'De-Banking'
0
Investigation Launched into Unlawful ‘De-Banking’ as Concerns Grow over Disproportionate Impact on Specific Communities
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

The Financial Conduct Authority to Investigate Unlawful Bank Closures

The Financial Conduct Authority (FCA) has pledged to investigate the issue of unlawful bank closures following concerns raised by Chancellor Jeremy Hunt. Hunt has warned that this practice could be “widespread” and has called on banks to provide affected customers with clear explanations for the termination of their payment accounts. The FCA has been urged to increase transparency and reassure the public.

Unexplained Account Closures

Sky News has spoken to several individuals and organizations that have experienced account closures, commonly referred to as “de-banking.” None of them were given reasons for the closures. Anas Altikriti, a critic of Middle Eastern governments and the founder of The Cordoba Foundation, a UK-based research and advisory group, believes his political views have led to his account being closed six times in the past decade. Altikriti compares a bank account to a water supply, stating that it is an essential service that should not be denied based on political views.

Related posts

Sam Bankman-Fried: Controversial ‘crypto king’ jailed in dramatic fashion as bail is revoked

Sam Bankman-Fried: Controversial ‘crypto king’ jailed in dramatic fashion as bail is revoked

August 14, 2023
Mark Zuckerberg Urges to Leave Behind the Elon Musk Cage Fight Controversy

Mark Zuckerberg Urges to Leave Behind the Elon Musk Cage Fight Controversy

August 13, 2023

Altikriti recently tweeted about his history of being de-banked and discovered that his Barclays accounts were mysteriously overdrawn by £1 million. Barclays Bank has promised to investigate the matter and provide a response by Tuesday.

Disproportionate Impact on Specific Communities

The Muslim Council of Britain has expressed concerns that Muslims could be disproportionately affected by these account closures. Miqdaad Versi, the assistant secretary general of the council, explains that many individuals who have been de-banked have been active in issues related to Islam and Muslims, such as pro-Palestinian activism or involvement in their local mosques. The council believes that these activities should not be relevant to banking decisions.

Ayo Banjo, a British lawyer of Black African background, argues that the issue extends beyond the Muslim community. He highlights the concentration of account closures within specific communities and the fact that it affects various demographics within those communities. Banjo claims to encounter a new client facing de-banking every week, with the majority of closures affecting the black, British-Nigerian community. He suggests that banks find it cheaper to close accounts rather than thoroughly investigate individual cases, resulting in the financial exclusion of entire communities.

Legal Protections Against Discrimination

Regulation 18 of the Payments Accounts Regulations makes it illegal to de-bank individuals based on their religion, race, or any other ground referred to in Article 21 of the EU Charter of Fundamental Rights. Chancellor Jeremy Hunt emphasizes that being de-banked is a threat to the right to express opinions. The FCA has the authority to impose significant fines on banks if it finds evidence of widespread de-banking practices. Hunt has called on the FCA to investigate both individual and business de-banking cases.

The FCA plans to request data from the largest banks and building societies regarding the number of account terminations and the reasons behind them. This information will be used as part of the investigation into the issue. The FCA is expected to provide an initial assessment to the chancellor by mid-September.

© 2023 4Press.biz

Tags: Investigation
Previous Post

Shawbrook Bank Announces Potential £3.5bn Merger with Co-operative Bank

Next Post

“Rising Interest: Haleon’s Nicotinell Anti-Smoking Aid Attracts Multiple Suitors”

Next Post
“Rising Interest: Haleon’s Nicotinell Anti-Smoking Aid Attracts Multiple Suitors”

"Rising Interest: Haleon's Nicotinell Anti-Smoking Aid Attracts Multiple Suitors"

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

The Strategic Reason Behind Major Companies Simultaneously Releasing Results in July

The Strategic Reason Behind Major Companies Simultaneously Releasing Results in July

4 months ago
The Looming Shadow of High Mortgage Rates: Casting a Long-Term Spell on the Housing Market

“Breaking News: High Mortgage Rates Cast a Long-Term Shadow on the Housing Market – Here’s What You Need to Know!”

4 months ago
Water Companies Facing Legal Action for Pollution and Overcharging Customers: What You Need to Know

Water Companies Facing Legal Action for Pollution and Overcharging Customers: What You Need to Know

4 months ago

“Trump’s South Carolina Takeover: Fox Business Poll Unveils Unstoppable GOP Primary Support”

4 months ago

FOLLOW US

BROWSE BY CATEGORIES

  • 900 loss 4. Treasury bond fund 5. plummeting value
  • Acas Survey
  • Acquire
  • AI
  • Airline
  • alert
  • Allegations of Ongoing Bullying 2. Toxic Work Environment 3. This Morning 4. Staff's Efforts to Report 5. ITV
  • Allison Kirkby
  • Apparel and Accessories 2. Vintage Collectibles 3. Limited Edition Products 4. Apple Merchandise 5. Exclusive Logo Items
  • Artificial Intelligence 3. Media
  • Automotive industry 2. Car registrations 3. July statistics 4. SMMT (Society of Motor Manufacturers and Traders) 5. Record-breaking numbers
  • Automotive Industry 2. Electric Vehicles 3. Second-hand Market 4. Sales Trend 5. Record-breaking Figures
  • Bank of England
  • Banking
  • Banking and Finance 2. Mergers and Acquisitions 3. Co-operative Bank 4. Sainsbury's 5. Mortgage Portfolio
  • Banking regulations 2. Interest rate policies 3. Compliance requirements 4. Consumer protection 5. Financial transparency
  • Barbenheimer'
  • Barbie Film 2. Box Office Records 3. $1 Billion in Sales 4. Female Directors 5. Triumph
  • Ben Bernanke
  • Breaking News
  • Bud Light Beer Sales 2. Plummet 3. Controversial Ad Campaign 4. Transgender Influencer 5. Dylan Mulvaney
  • Business
  • Business 2. Retail 3. Rescue bid 4. Gordon Brothers 5. Wilko
  • Business acquisitions 2. Publishing industry news 3. Financial investments 4. Private equity firms 5. Impact on Simon & Schuster
  • Business and Finance 2. Media and Publishing 3. Mergers and Acquisitions 4. Parenting and Family 5. Corporate Transitions
  • Business Growth: Revenues and User Numbers Surge at Meta 2. Legal Matters: Meta's Legal Expenses Soar amidst Success 3. Financial Performance: Surging Revenues
  • Business News 2. Entertainment Industry 3. Film Industry 4. CEO Insights 5. UK Cinema Challenges
  • Business News 2. Real Estate Industry 3. Company Acquisitions 4. Workforce Changes 5. Purplebricks Announcement
  • Business News 2. Technology 3. Workplace 4. HR Policies 5. COVID-19 Updates
  • Cancer monitoring
  • central bank
  • CEO
  • CEO Resignation 2. NatWest 3. Nigel Farage 4. Bank Account Leak 5. Controversy
  • Chief Economist
  • China
  • Co-op Bank's compensation package 2. Customers affected by processing system issue 3. Compensation offer details 4. Co-op Bank's response to the issue 5. Customer support and compensation process
  • collaboration
  • controversial imagery
  • Controversy 2. BBC's Maida Vale Studios Bid 3. Vaughn Consortium 4. Challenges 5. Surrounds
  • Corporate Governance 2. Executive Compensation 3. Dispute Resolution 4. Legal Accountability 5. Responsible Leadership
  • Corporate Social Responsibility 2. Fashion and Sneaker Industry 3. Philanthropy 4. Adidas Yeezy Trainers 5. Business Ethics
  • Coutts CEO
  • COVID
  • COVID rules
  • Credit
  • Crime
  • Crime 2. Retail 3. Employee abuse 4. Co-op shops 5. Trend analysis
  • Daily Mail 2. Proprietor Rothermere 3. Investors 4. Discussions 5. Telegraph Acquisition
  • Debt Relief Services 2. Corporate Insolvencies 3. Increasing Demand 4. Highest Level in Over a Decade 5. Financial Crisis
  • Disney+ 2. UK Prices 3. Global Subscriber Decline 4. Information 5. Important Updates
  • Domestic Abuse 2. Smart Speakers 3. Baby Monitors 4. Control of Victims 5. Warning by MPs
  • E-commerce
  • Economic 2. Financial 3. Political 4. Credit 5. Governance
  • Economic downturn
  • Economic Growth 2. Financial Performance 3. Market Expansion 4. Current Industry Trends 5. Long-term Sustainability
  • Economic news
  • Economics
  • Economics 2. Monetary Policy 3. Financial Markets 4. Quantitative Easing 5. Interest Rates
  • Economy
  • Economy 2. Bank of England 3. Forecasts 4. Prolonged Economic Struggles 5. Many
  • Economy 2. Technology
  • Electric vehicles 2. Van industry 3. Arrival 4. Partnerships 5. Survival strategies
  • employment
  • Energy
  • Energy price cap 2. Negative impact 3. Increased costs 4. Inflation 5. Energy sector
  • Energy Security 2. Job Creation 3. Reduced Reliance 4. Hostile States 5. Russia
  • Entertainment 4. Corporate
  • Entertainment industry 2. Artificial Intelligence (AI) 3. Hollywood 4. Actors 5. Writers
  • Environment
  • Eurozone interest rates 2. Record high 3. Economy 4. Financial markets 5. Impact
  • Executives 2. Career milestones 3. Departure 4. Succession planning 5. Uncertainty
  • Experiment
  • Expiring rules
  • Fashion
  • Fast food
  • Finance
  • Finance 2. Investment Banking 3. Executive Recruitment 4. European Market 5. Warburg Pincus
  • Finance and Banking 2. Economic News 3. Political Developments 4. Controversies 5. Business Updates
  • Financial 5. Future Outlook
  • Financial News 2. Banking 3. Mergers and Acquisitions 4. Shawbrook Bank 5. Co-operative Bank
  • Financial performance: Analyzing the economic health and profitability of major companies. 2. Competitive landscape: Assessing how different companies compare in terms of market share
  • Financial Regulations 2. Banking Practices 3. Legal Consequences 4. Political Bias 5. Corporate Governance
  • Food and Beverage 2. Government Regulations 3. Social Impact 4. Business and Economy 5. Licensing and Policies
  • Food industry 2. Plant-based alternatives 3. Beyond Meat 4. Revenue decline 5. Demand decrease
  • Football
  • Former Fed Chair
  • Franchise
  • Fraud Scandal
  • Fraudulent Ticket Sales 2. Ticket Scam Alerts 3. Increasing Report of Ticket Fraud 4. Lloyds Bank's Warning on Football Ticket Scams 5. Rising Incidents of Ticket Fraud: Lloyds Bank's Caution
  • Gender inequality
  • Global economy
  • Government
  • Halifax 2. Mortgage Rate Cutters 3. Halifax Mortgage Rates 4. Halifax Mortgage Deals 5. Halifax Mortgage Offers
  • Health
  • Healthtech
  • Heathrow Airport
  • Home protection 2. Carbon Monoxide alarms 3. Online shopping 4. Effectiveness of products 5. Safety precautions
  • Housing affordability 2. Real estate investment 3. Market stability 4. Housing demand 5. Economic resilience
  • Housing crisis 2. Rental supply 3. Affordability 4. Impact on renters 5. Britain's housing market
  • HS2
  • Increasing Pressure
  • inflation
  • Influence
  • interest rates
  • Investigation
  • Italy 2. Unexpected windfall tax 3. Banks' interest rate profits 4. What you need to know
  • Job cuts
  • Job market 2. Hiring trends 3. Economic climate 4. Employer concerns 5. Survey findings
  • Job Opportunity
  • Kwasi Kwarteng 2. Mini-Budget Decision 3. Ignored Warnings 4. Significant Economic Deterioration 5. Economic Policies
  • Labor
  • labor strike
  • Labour warning 2. UK households 3. potential £8
  • Legal action
  • legal troubles
  • Mattel
  • Media
  • Media Consumption Trends 2. Broadcasting Industry Insights 3. Television Viewership Analysis 4. Ofcom's Groundbreaking Report 5. Changing Landscape of TV Watching
  • Microsoft
  • Mortgage arrears 2. UK finance 3. Homeowners 4. Landlords 5. Payment struggles
  • MPs Report: Food Insecurity 2. Unhealthy Eating Habits 3. Obesity 4. Food Insecurity and Unhealthy Eating 5. MPs Report on Food Insecurity and Obesity
  • Music industry news 2. Artificial intelligence 3. Google 4. Music labels 5. Song generation
  • NatWest
  • NatWest CEO
  • News
  • Nigel
  • Nigel Farage 2. Coutts Bank 3. Bank accounts 4. Offer 5. Controversy
  • Nuclear Energy
  • Politics
  • Politics 2. Finance 3. Banking 4. Corporate Accountability 5. Data Leak
  • Premier League
  • product offerings
  • Prospects
  • Racial discrimination
  • Real estate market 2. Sales decline 3. Housing prices 4. Taylor Wimpey 5. Resilience
  • Regulator
  • rental opportunities
  • Rental Property Shortage 2. Increasing Demand 3. Limited Supply of Tenants 4. RICS Predicts 5. Rental Property Market
  • Resignation
  • Retail industry 2. British towns 3. Decline of retail outlets 4. Disappearing thousands 5. Socio-economic transformation
  • Retail industry 2. Consumer behavior 3. High street economy 4. Business impact 5. Competitive landscape
  • reveals
  • Rishi Sunak 2. North Sea Energy Opportunities 3. Scotland's Net Zero Transition
  • Rising interest rates 2. Redditch residents 3. Food banks 4. Survival 5. Relying
  • Royal Mail Stamps 2. Barcode 3. Surcharge Fees 4. Last Chance 5. Avoidance
  • Sales
  • Sam Bankman-Fried 2. Controversial 'crypto king' 3. Jailed in dramatic fashion 4. Bail revoked 5. Crypto industry news
  • Savings
  • Seth Rogen 2. ongoing challenges 3. Hollywood writers' dispute 4. strike reaches 100th day 5. highlights
  • Share
  • Shell
  • smoking cessation
  • Social Media 2. Technology 3. Celebrity News 4. Business 5. Entrepreneurship
  • Social Media 2. Twitter 3. Usernames 4. Platform Account 5. Social Media Trends
  • Sparta Activist Fund 2. Dr Martens 3. Stake increase 4. Share price slump 5. Sparta Activist Fund's strategy
  • Sports
  • Sports 2. Business 3. Legal 4. Tottenham Hotspur FC 5. Insider Trading
  • Spotify
  • Start-Up
  • Summit
  • Surge in Passenger Numbers
  • Taxation policies 2. Historical trends 3. Alcohol duties 4. Other duties 5. Evolution of duty rates
  • Taylor Swift
  • Tech Industry News 2. Social Media Updates 3. Corporate Investigations 4. Compliance and Rule Violations 5. Elon Musk Updates
  • Tech Industry Rivalry 2. Social Media Impact 3. CEO Public Feuds 4. Ethical Responsibility 5. Celebrity Incidents
  • Technology 2. Artificial Intelligence 3. Business 4. Finance 5. Microsoft
  • Technology Titans 2. Business Rivalry 3. Celebrity Showdown 4. Battle of the Innovators 5. Epic Venue
  • tourism
  • Train Strikes 2. Affected Rail Services 3. Complete Schedule 4. Train Disruptions 5. Transport Disruptions
  • Transportation
  • Transportation 2. Rail services 3. Train drivers 4. Overtime ban 5. Passenger inconvenience
  • Transportation industry 2. Ride-hailing services 3. Company financials 4. Business achievements 5. Profitability
  • Travel
  • Treasury 2. Control of Appointment 3. Watchdog Complaints 4. Czar 5. Government Oversight
  • UK Economy 2. Modest Growth 3. 0.2% 4. ONS Figures 5. UK Economic Performance
  • UK Retail
  • Uncategorized
  • Unilever
  • Unlawful 'De-Banking'
  • US interest rates 2. Economy 3. Finances 4. Surge 5. Impact
  • User Numbers
  • Virgin
  • Vue CEO 2. UK cinemas 3. Challenges 4. Barbenheimer Box Office Triumph 5. Despite
  • WANdisco
  • Water companies
  • Wilko
  • Wilko's Collapse 2. Threat to UK Retail Sector 3. Potential Job Losses 4. Wilko's Impact on Economy 5. Retail Industry Crisis
  • Wilko's Rescue Deal Hopes Dim 2. Administration Looms 3. What's Next for the Retailer 4. Retail Industry 5. Financial Troubles
  • Work

BROWSE BY TOPICS

Abrdn Adidas Bank of England Banks Ben Bernanke British Gas Business Co-op Bank Coutts Dame Alison Rose Debt prevention Debt relief Elon Musk Energy regulator Eurozone Government GPT-4 Healthcare Interest rates Investigation Kwasi Kwarteng Limited Edition Lloyds Lloyds Bank Looting Meta Microsoft MPs Report NatWest NatWest CEO Nigel Farage Retail outlets Shell Spurs Telegraph THG Tottenham Hotspur Train strikes Twitter UK economy US economy Vue Vue CEO Wilko Wizz Air

POPULAR NEWS

    4Press

    4press.biz is a business news website that covers the latest trends and developments in various industries and markets. You can find press releases from leading companies and organizations, as well as insightful articles and analysis from experts and journalists.

    Follow us on social media:

    Recent News

    • Sam Bankman-Fried: Controversial ‘crypto king’ jailed in dramatic fashion as bail is revoked
    • Mark Zuckerberg Urges to Leave Behind the Elon Musk Cage Fight Controversy
    • “Top Takeaway Pint Rules to Keep Following Cancellation of Proposed Ban”

    Category

    Recent News

    Sam Bankman-Fried: Controversial ‘crypto king’ jailed in dramatic fashion as bail is revoked

    Sam Bankman-Fried: Controversial ‘crypto king’ jailed in dramatic fashion as bail is revoked

    August 14, 2023
    Mark Zuckerberg Urges to Leave Behind the Elon Musk Cage Fight Controversy

    Mark Zuckerberg Urges to Leave Behind the Elon Musk Cage Fight Controversy

    August 13, 2023
    • About
    • Advertise
    • Careers
    • Contact

    © 2023 4press

    No Result
    View All Result
    • Home
    • Politics
    • News
    • Business
    • Culture
    • National
    • Sports
    • Lifestyle
    • Travel
    • Opinion

    © 2023 4press

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In