UK Treasury wants banks to provide fee-free accounts to benefits claimants

The video discusses the challenges faced by individuals like Michael who lack bank accounts, highlighting the inconvenience and barriers to employment. A new EU law mandates basic bank accounts with fair fees, but UK banks are in conflict with the Treasury over implementation. The Treasury aims to offer fee-free accounts to Universal Credit claimants, but banks fear financial losses. The video explores potential solutions and the impact on the banking industry.

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