Banks Accused of Pushing Customers Away from Basic Accounts The UK's financial regulator has been probing the country's largest banks, and the results are disheartening.
The Financial Conduct Authority (FCA) has found that these institutions have been actively pushing vulnerable customers – including the homeless and those in financial hardship – away from basic bank accounts.
A "mystery shopping" exercise conducted by the FCA highlighted the problem with alarming clarity. Out of 298 interactions with banks, a third were rated as poor or very poor.