Should banks be allowed to close existing customer accounts for political reasons?

Retired UK politician Nigel Farage, one of the leaders of the Brexit movement which succeeded in pulling Britain out of the European Union, recently had his bank account closed by […]
Published on August 4, 2023

Retired UK politician Nigel Farage, one of the leaders of the Brexit movement which succeeded in pulling Britain out of the European Union, recently had his bank account closed by a British bank. The ensuing controversy saw the departure of that banks CEO.

In the USA, prominent physicians, Dr Joseph Mercola is facing being “de-banked” by Chase Bank for questioning US government policies on Covid lockdowns and vaccine mandates.

In Canada, the Trudeau government ordered the freezing of bank accounts for people contributing to the 2022 Trucker Convoy, which all Canadian banks agreed to without comment or protest.

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Should banks be allowed to close or freeze bank accounts for political reasons?

 

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