Monday, June 03, 2013

Charity Bank formally sheds charitable status

Charity Bank formally sheds charitable status: Charity Bank ceased to be a charity at close of business on Friday (31 May) following changes in European banking regulations that make it impossible for the body to continue as both a charity and a bank.

However, the Charity Commission has given its approval to the Bank’s proposals to continue operating as a bank and still secure its operation for charitable purposes.

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