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Lloyds Bank Tsb And Us Government / Cuban sanctions

1 Thailand Review updated:

As an ordinary citizen with a Lloyds TSB bank account, I have read with concern and anger the decision by you to suspend banking services to UK retailers because they trade with Cuba. You say it is because the US will prosecute any business that trades with Cuba. There are several issues here, all of which show your unwillingness to side with the little guy.

First of all, is this decision by the US legal? Can they arbitrarily decide who it is they can refuse to trade with? On what basis has the US conducted a 50-year blockade of Cuba? What right of blockade do they have? Have you investigated this? If not, why not?

Are you complying for business reasons? If so then you are spineless.

Secondly, what about the rights of British citizens to trade? Are you not interfering with these? Where in the UK Constitution does it say we have to abide by the legal system of a non-EU government? Have you checked to see what the rights of UK citizens are to trade with Cuba? I doubt it.

It seems that Lloyds TSB has to taken the easy and profitable way out, to appease a powerful trading block rather than side with its own citizens. Rather than tell the US that their demands infringe basic freedoms and liberties of Britons, you have kowtowed for business reasons. So be it. As long as we know which side you are on. You are on the side of big business against us, the ordinary man in the street.

Finally, here are two questions I would like answers to, as they concern me personally, a little guy. Am I free to visit Cuba on holiday, or do you have the right to censure that as well? What if I want to send a donation to Cuba for all the good work they are doing in their hospitals, will you refuse to honour that cheque?

Nick Ferriman
Global citizen

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  • Th
      16th of Jun, 2008
    0 Votes

    As a Lloyds Bank customer of 29 years I take this very seriously. Unless the bank revokes its decision to give in to US pressure I will take my account elsewhere. I have also contacted Ian Gibson of the all party Cuba group and my local mp. I hope many people will do likewise.

  • He
      19th of Jun, 2008
    0 Votes

    I, too, was appalled to read of LloydsTSB's actions on this and went to Barclays to change my account. However, they too refuse to allow customers to use their dollar accounts to trade with Cuba. I have written to my MP and to Barclays and Lloyds about this. I'm particularly interested in legislation that apparently exists in Britain to penalise companies making such discriminatory policies - it was on the Cuba Solidarity web-site which came up in my Google search for bank policies! The following is what appeared on the Cuba Solidarity site:

    "The United States has applied a blockade against Cuba for 47 years. In 1992 and 1996 the US strengthened the blockade. The so-called Torricelli Law of 1992 made it illegal for US-owned subsidiaries in third countries to trade with Cuba and the so called Helms Burton Act of 1996 made investing in Cuba by foreign companies liable to prosecution in the US. These extra-territorial elements were opposed by the countries of the EU. This lead to the adoption by the British Government of 'antidote' legislation in 1996, (No. 3171, PROTECTION OF TRADING INTERESTS). This legislation penalises companies in the UK that comply with the extra-territorial aspects of US law. It is thus designed to counteract the effects of the US legislation. While it is still on the statute book it has never been invoked."

    I have asked my MP to follow this up.

  • Ni
      7th of Jul, 2008
    0 Votes

    I emailed Lloyd's Bank three weeks ago and I have yet to receive have a reply. Very simply, they give not a jot for the man on the Clapham omnibus. But I bet my bank charges will go up to cover their losses in the sub-prime mortgage fiasco.

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