The UK’s biggest banks have introduced the right to monitor customers’ social media into their privacy policies.
According to The Telegraph:
Despite public denials that they carry out checks on sites such as Facebook and Twitter, the four biggest high street lenders and several others have buried in the small print of their privacy policies that they may obtain information from social media accounts.
Banks are facing increasing pressure to reveal what checks they carry out on customers after Nigel Farage, the former Ukip leader, discovered the exclusive bank Coutts closed his accounts after it was deemed that his views “do not align with our values”.
A dossier compiled on Mr Farage included examples of his posts on Twitter.
The Brexiteer is also demanding an apology from the BBC, after it inaccurately reported that his account was closed for commercial reasons, the day after its business editor sat next to Dame Alison Rose, the chief executive of Natwest, at a dinner.
Mr Farage has now lodged a complaint with the Information Commissioner over the briefing to the corporation about his account.
It comes as the Telegraph can reveal that three more banks are being scrutinised by the Treasury amid claims accounts have closed because of customers’ political views.
The cases relate to Metro Bank, Yorkshire Building Society and American Express.
The specifics of the cases being looked at by officials are not known. However, the political parties Reform UK and the Brexit Party are both understood to have had difficulties with their accounts with Metro Bank.
It recently emerged that Yorkshire Building Society closed the account of Reverend Richard Fothergill days after he wrote to the bank complaining about its messaging for Pride month.
Richard Tice, the Reform UK leader, has also told The Telegraph that his American Express account was suspended for a number of weeks earlier this year.
Natwest, which is 39 per cent owned by the taxpayer and is the parent company of Coutts, did not answer questions about whether it regularly looks at customers’ social media.
However, in a 13-page privacy notice it said it may gather “information that you make public on social media”, including Facebook and Twitter. Coutts’ policy is identical.
Lloyds Banking Group, which also owns Halifax and Bank of Scotland, ignored questions about the issue, but admits in small print it may collect information from “published media and social networks”.
The banks do not refer to this in the terms and conditions for account closures.
Meanwhile, the BBC is reporting this morning that the Treasury plans to question bank bosses over account closures:
The Treasury has called a meeting with bank bosses over account closures, following the row between Nigel Farage and NatWest.
Minister Andrew Griffith said there was “significant concern” over claims accounts are shut due to people’s political views.
Natwest boss Dame Alison Rose has apologised to Mr Farage, who has called for her to be questioned by MPs.
In a letter to banks seen by the BBC, City Minister Andrew Griffith said the recent allegations of “client de-banking” had “raised significant concern in both Houses of Parliament”.
He said the government will “take the action necessary” to protect lawful freedom of expression.
The BBC understands Mr Griffiths’ letter will be sent to 19 banks and financial services firms on Monday.
He said he would call for a discussion with bank bosses “at the earliest opportunity”.
