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<p>The Government has been unequivocal in its view that contracts of payment account
facilities should not be terminated on grounds relating to users’ lawful freedom of
expression or political beliefs. The Government strongly supports this fundamental
right afforded to all people in British society.</p><p> </p><p>On 21 July, the Treasury
published its policy statement, setting out its plans to enhance requirements relating
to payment account contract termination. These changes will extend the notice period
for contract termination to 90 days (subject to limited exceptions), and mandate that
providers give a clear and tailored reason for termination, unless to do so would
be unlawful.</p><p> </p><p>Following the announcement, I met with the UK’s largest
banks and building societies, whose representatives expressed their commitment to
the principle of non-discrimination based on lawful freedom of expression, and to
bringing their policies in line with the planned reforms where needed, as soon as
possible.</p><p> </p><p>Additionally, I note that regulation 18 of the Payment Accounts
Regulations 2015 already expressly prohibits credit institutions from discriminating
against UK consumers by reason of their religion or belief, or political opinion,
as they access payment accounts. The Government has made clear that it expects providers
to abide by this legal requirement, and the FCA to use its powers as appropriate to
ensure compliance with this requirement.</p><p> </p><p>Further to this, the Chancellor
has written to the FCA to request an urgent review into the matter of ‘de-banking’.
The FCA is currently undertaking this review and will share the evidence and its findings
with the Treasury. This will help inform whether further action is necessary to ensure
nobody is being unfairly denied banking facilities.</p>
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