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HSBC, Natwest and Lloyds are among the lenders that will have to comply.
New UK rules require banks to give 90 days’ notice before terminating customer accounts.
KEY POINTS
- Banks must provide clear written explanations for account closures to allow challenges via the Ombudsman.
- The updated regulations apply to major lenders including HSBC, Natwest, and Lloyds.
- Customers will have expanded rights and timeframes to challenge wrongful de-banking decisions.
COMPANIES
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