BASC evidence set to be included in FCA de-banking review

The Financial Conduct Authority (FCA) has confirmed that its review into the provision of banking services will take account of BASC evidence detailing widespread ‘de-banking’ of the shooting community.

In a letter to BASC, the FCA stated that: ‘The concerns your members are raising are important to us and we recognise that losing access to a bank account can cause serious disruption to a business’ and confirmed that a BASC research report submitted to the FCA in August would be taken into account in the context of its de-banking review.

The FCA also confirmed that it expected to publish its initial report in mid-September on the scale of account closures and the reasons behind them.

Dr Conor O’Gorman, BASC’s head of policy and campaigns, said: “Despite a high profile de-banking expose, it is concerning that we continue to get reports from members experiencing discriminatory banking practices.

“It is welcome news that the Financial Conduct Authority review will take account of our research because the rural community deserves fair access to banking services.”