FCA asked to investigate ‘unwarranted’ bank account freezing

Parliamentary committee concerned AI may have caused ‘inappropriate bias’


The UK’s Financial Conduct Authority has been asked to investigate reports of the freezing of bank accounts for vulnerable customers.

In a statement, the chair of the Treasury Select Committee, Mel Stride, said the closure of the accounts by UK bank Natwest was “unwarranted”.

“Recent reports suggesting that banks might be freezing bank accounts without good reason are very concerning,” he said.

Stride has written to FCA chief executive Nikhil Rathi asking him to investigate the reports and

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