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New rules to combat debanking in the UK

Leader of Reform UK Nigel Farage.
Leader of Reform UK Nigel Farage had his Coutts bank accounts closed, he alleged due to his political views. Photo: Leon Neal/Getty Images

Key provisions of the new rules and implications for financial services institutions.

Concerns about the seemingly arbitrary closure of bank accounts, often referred to as “debanking,” have been growing in the UK.

These concerns, particularly voiced by small businesses and individuals who found their accounts terminated with little notice or explanation, have prompted government action. In a significant move to protect

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