To match an exact phrase, use quotation marks around the search term. eg. "Parliamentary Estate". Use "OR" or "AND" as link words to form more complex queries.

Keep yourself up-to-date with the latest developments by exploring our subscription options to receive notifications direct to your inbox

Written Question
Bank Services: Closures
Thursday 14th March 2019

Asked by: Laura Pidcock (Labour - North West Durham)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, on what statutory basis a bank is able to close an account without disclosure to the customer concerned.

Answered by John Glen

Banks are under no obligation in law to inform customers of the reasons for an account closure.

In addition, under s333A of the Proceeds of Crime Act 2002, it is a criminal offence for a person who has made a disclosure to the appropriate authorities under Part 7 (in relation to suspicions of money laundering) to inform the customer that they have done so, where that could prejudice an investigation. This applies to banks, where an account closure is the result of suspected criminal activity. Individual banks are responsible for compliance with this obligation.

Speech in Commons Chamber - Tue 22 May 2018
Oral Answers to Questions

"T9. Contrary to the out-of-touch outlook presented by the hon. Member for Brigg and Goole (Andrew Percy), Eurostat figures show regional inequality in the UK, measured in output per hour, to be the worst in Europe. There is a massive disparity across England, with households in the south-east, the richest …..."
Laura Pidcock - View Speech

View all Laura Pidcock (Lab - North West Durham) contributions to the debate on: Oral Answers to Questions
Speech in Public Bill Committees - Thu 11 Jan 2018
Finance (No. 2) Bill (Third sitting)

"Will the Minister explain the severe imbalances in research and development across the country and how he will address them?..."
Laura Pidcock - View Speech

View all Laura Pidcock (Lab - North West Durham) contributions to the debate on: Finance (No. 2) Bill (Third sitting)
Speech in Public Bill Committees - Thu 11 Jan 2018
Finance (No. 2) Bill (Third sitting)

"Even within the European Union, the north-east has suffered grave inequalities when it comes to research and development jobs, of which there are 5,300 compared with 36,000 in the south-east. Does the hon. Gentleman agree that the Bill does nothing to get rid of that disparity? The worry is that …..."
Laura Pidcock - View Speech

View all Laura Pidcock (Lab - North West Durham) contributions to the debate on: Finance (No. 2) Bill (Third sitting)
Speech in Public Bill Committees - Thu 11 Jan 2018
Finance (No. 2) Bill (Third sitting)

"Does my hon. Friend think that the Government have calculated the one percentage point figure on the basis that we are exiting the European Union and on formal calculations about what the net consequence of removal from the EU will be, or is this just an arbitrary figure?..."
Laura Pidcock - View Speech

View all Laura Pidcock (Lab - North West Durham) contributions to the debate on: Finance (No. 2) Bill (Third sitting)
Speech in Public Bill Committees - Thu 11 Jan 2018
Finance (No. 2) Bill (Third sitting)

"That disparity in investment does not make sense, because economic growth, employment rates and average earnings are all worse than average in the north-east. I do not see any mechanism to redress that disparity; I wonder whether my hon. Friend does...."
Laura Pidcock - View Speech

View all Laura Pidcock (Lab - North West Durham) contributions to the debate on: Finance (No. 2) Bill (Third sitting)
Speech in Commons Chamber - Tue 19 Dec 2017
Finance (No. 2) Bill

"As my hon. Friend the Member for Brent Central (Dawn Butler), Labour's shadow Minister for Women and Equalities, said, new clause 6 would require the Chancellor to carry out and publish a review of the Bill’s effect on equality. In short, it touches on the fundamental difference between the Labour …..."
Laura Pidcock - View Speech

View all Laura Pidcock (Lab - North West Durham) contributions to the debate on: Finance (No. 2) Bill
Speech in Commons Chamber - Tue 19 Dec 2017
Finance (No. 2) Bill

"Absolutely. We are seeing lots of inadequacies in the universal credit system, which completely smash out of the water the idea that work pays under the Conservative Government.

Even taking account of housing costs, which I know take a huge slice of wages from people in the south-east, in the …..."
Laura Pidcock - View Speech

View all Laura Pidcock (Lab - North West Durham) contributions to the debate on: Finance (No. 2) Bill
Speech in Commons Chamber - Tue 19 Dec 2017
Finance (No. 2) Bill

"It is heartbreaking. Of course we want to keep as many of those brilliant young people in my constituency as possible, with the education they have received being put back into infrastructure and a rich economy, but the long-term employment just is not there.

New clause 6 would also address …..."
Laura Pidcock - View Speech

View all Laura Pidcock (Lab - North West Durham) contributions to the debate on: Finance (No. 2) Bill
Speech in Commons Chamber - Tue 19 Dec 2017
Finance (No. 2) Bill

"Sorry, but is this a debate or a questions session?..."
Laura Pidcock - View Speech

View all Laura Pidcock (Lab - North West Durham) contributions to the debate on: Finance (No. 2) Bill