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Debanking protections will take effect in 2026, UK Treasury says

( April 28, 2025, 09:48 GMT | Official Statement) -- MLex Summary: Rules requiring banks to give 90 days’ notice to a customer before closing his or her account will be in force in a year's time, the UK’s finance ministry said today. The Treasury also said that banks will have to give a clear explanation to the customer in writing; an initiative aimed at protecting people and businesses from debanking that was first announced in 2024, under the previous government. The rules will apply to contracts agreed from and including April 28, 2026 — the date when the legislation is expected to come into force.Statement below....

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