Banks using account closures to compel belief

Jul 12, 2023

Are supporters of man-woman marriage being targeted by banks and having their accounts closed because of their views?

That’s the fear that’s arisen in recent weeks as the ‘debanking’ scandal has hit the headlines and more and more people have come forward to say their account was closed because of their non-PC beliefs.

Last week, we sent you the interview with Revd Richard Fothergill, who was a victim. It’s becoming increasingly clear that this is a widespread problem.

Martin Walker, director for banking and finance at the Centre for Evidence-Based Management, told The Times (£) that banks are outsourcing to Asia the task of vetting customers, including whether “this person doesn’t approve of gay marriage”.

Most high street banks are affiliated with LGBT lobby group Stonewall and this is suspected to be influencing decisions about bank account closures.

Our Duty, a support group for parents who want to protect their children from gender ideology, was denied a business account by Metro Bank. The bank, which affiliates with Stonewall, allegedly told the group that “the content of your website conflicts with the culture and ideas we are pushing”.

Politicians are also heavily affected, with rules on ‘politically exposed persons’ apparently being over-zealously applied.

Andrew Griffith, a Treasury minister, said there should be an urgent review into whether accounts are being closed due to political views. He told The Times: “It is unacceptable to remove someone’s account solely on the basis of either lawful freedom of expression or indeed their politically exposed person status.”

It ought to go without saying that in a free country banks shouldn’t have the power to ban customers on the basis of their beliefs.

Banks are essential utilities and their targeting of individuals over their views amounts to compelling belief. Customers have to agree with a bank’s woke values or else.

C4M urges the Government to get to the bottom of these worrying developments, take measures to stop them from happening and support freedom of belief and expression.