Closure of Nigel Farage’s accounts by Coutts branded sinister – as MPs question its operating licence
THE closure of Nigel Farage’s bank account was yesterday branded sinister by the Home Secretary.
Suella Braverman hit out at posh Coutts — as MPs said its operating licence should be at risk.
Parent bank NatWest is in talks with the Financial Conduct Authority, who said customers must be treated fairly.
And a Treasury-led industry crackdown on banks who discriminate against customers based on their political beliefs is expected within days.
Ms Braverman wrote: “The scandal exposes the sinister nature of much of the Diversity, Equity and Inclusion industry.
“Apparently anyone who wants to control our borders & stop the boats can be branded ‘xenophobic’ & have their bank account closed in the name of ‘inclusivity’.”
READ MORE ON NIGEL FARAGE
A memo to Coutts’ reputational risk committee has said Mr Farage was considered by many to be a “disingenuous grifter” with “xenophobic, chauvinistic and racist views”.
Yesterday, he raged: “I am effectively de-banked.
“How do I pay my gas bill? What have I done wrong? I haven’t broken the law. The whole thing is deplorable.”
He said UK banks were heading to a Chinese-style social credit system where only those with acceptable views could participate in society.
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A Treasury source said Chancellor Jeremy Hunt was unaware banks had set up committees to police customers’ political views.
The source said: “It is a serious concern if the banks are denying access to anyone for exercising their lawful right to free speech.”
A change in law is expected where banks will have to give three months’ notice and give a reason to close an account.
PM Rishi Sunak said: “This is wrong. Free speech is the cornerstone of our democracy.”
Ex-Business Secretary Sir Jacob Rees-Mogg called for an inquiry.
Coutts said: “Decisions to close accounts are not taken lightly and take into account a number of factors including commercial viability, reputational considerations and legal and regulatory requirements.
“As the client has previously confirmed, alternative banking arrangements have been offered in the wider group.”
