Bank Accounts Debate

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Department: HM Treasury
Wednesday 19th July 2023

(1 year, 4 months ago)

Lords Chamber
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Baroness Penn Portrait Baroness Penn (Con)
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My Lords, I am not sure that events recently pertain to the particular case raised by the noble Lord. I was pleased to meet with him and as I committed to then and commit to on an ongoing basis, we will continue to engage with the Ministry of Defence to ensure that we have an understanding of the issue and that people do not face a wider systemic barrier.

Lord Macpherson of Earl's Court Portrait Lord Macpherson of Earl’s Court (CB)
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My Lords, I declare my interest as chairman of C Hoare & Co. Does the Minister agree that customer confidentiality should lie at the heart of banking, and that a bank apparently commenting on the income and wealth of a customer is completely unacceptable?

Baroness Penn Portrait Baroness Penn (Con)
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I agree with the noble Lord on both points. When it comes to assessing whether that has taken place, that is a question for the regulator.