On Saturday morning, when I was helping Caroline prepare for a lunch party, I got an urgent request for help from the leader of a populist, right-wing campaigning group. His organisation had just been debanked. He had five days before the account was closed, during which time the bank would return the money it had received in membership dues to the members and keep anything left over, effectively bankrupting the company. No reason was given, other than that it had breached the bank’s ‘community standards’.
‘That can’t be right,’ I told him. ‘Back in March, the government announced it was changing the rules to make it harder for banks to shut down accounts for political reasons. If the bank wants rid of you, it now has to give you 90 days’ notice and set out in detail why it’s closing your account. Disapproving of your political beliefs isn’t a permitted reason.’
After frantic Googling, I discovered ‘Farage’s Law’ had been torpedoed by the snap election
He sounded relieved, as well he might, and went off to compose a robust email to the bank’s CEO.
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