
Banks under pressure
Is the Financial Conduct Authority debanking review going to help shooting businesses? There’s some hope, as BASC’s Conor O’Gorman explains….
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BASC’s Dr Conor O’Gorman this morning featured on BBC Radio 4’s Farming Today programme, discussing the issue of de-banking for people and businesses associated with shooting, following publication earlier this week of the Financial Conduct Authority’s initial findings of its review into the issue.
Conor stressed the devastating impact of de-banking – that is, the sudden unexplained closure of personal or business bank accounts – and cited one example of a clay ground who BASC is supporting. The ground recently had its accounts closed without warning or official explanation. He stated that, from evidence gathered by BASC, any explanations given for account closures were always “off the record”, rather than in writing and adhering to notice periods for closure.
The interview followed news that BASC evidence is being included in the Financial Conduct Authority’s (FCA) review into de-banking, ensuring that representation from affected businesses and individuals in the shooting sector will be made as the review progresses.
Within the discussion, Conor also highlighted that banking issues extended beyond account closures to include refusal of new accounts, and issues with obtaining credit or completing online payments.
Listen to the interview in full on BBC iPlayer (from 6 min 48 sec).
Is the Financial Conduct Authority debanking review going to help shooting businesses? There’s some hope, as BASC’s Conor O’Gorman explains….
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