By Huw Jones and Sinead Cruise
Britain’s top banks shut almost 142,000 accounts held by small businesses in the last year because they feared a visit from regulators checking on compliance, financial services minister Bim Afolami said on Wednesday.
Figures supplied by Barclays, HSBC, TSB, Lloyds, Santander, NatWest, Metro and Handelsbanken showed 2.7% of the 5.3 million business accounts held by small companies were closed for reasons including risk appetite and financial crime concerns, parliament’s Treasury Select Committee said.
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