Debanking alert: Lloyds Bank accused of 'withholding money' from The Canary
A major bank has been accused of debanking a left-wing news outlet, which has left the publication with "barely any funds".
The Canary has slammed Lloyds Banking Group for allegedly "withholding a substantial amount of our money" and effectively debanking them as a result.
On its post, the controversial news website stated: "Lloyds has not explained why it has taken this action. Despite multiple communications from us, the bank has not been forthcoming with its reasoning,"
Due to the issue, The Canary claims it is now in a "financially precarious situation" and does not know when “money that Lloyds is holding will be returned".
The publication suggested there was a nefarious reason behind the bank's decision-making, echoing the infamous Nigel Farage-Coutts debanking scandal in 2023.
According to The Canary, the owner does "not currently know the reasons behind our debanking; we cannot afford to be naive about this".
The editorial team added: "It is an outrage that The Canary has been unceremoniously dropped into financial instability with no notice or explanation from Lloyds."
Declaring itself a "radical working-class media", The Canary recently announced plans to roll out a daily weekday national newspaper in Britain.
In its public statement, the outlet noted that "other politically engaged people have suffered similar actions by other banks".
NatWest-owned private bank Coutts found itself in a serious row after Reform leader Nigel Farage was debanked from the financial institution.
The scandal resulted in the resignation of senior figures from the bank and brought the issue of debanking to the national conversation.
Reacting to the news, a spokesperson for the Free Speech Union (FSU) posted on X: "The Canary has been debanked by Lloyds.
"Debanking is one of the most pernicious forms of cancellation that an individual or organisation can face, something the FSU is only too familiar with.
"Lloyds has provided no explanation for its decision and has not told The Canary when its funds will be returned. We are in contact with The Canary and stand ready to help."
A Lloyds Bank spokesperson told GB News; "We do not comment on individual customer accounts."