Nigel Farage is a former Brexit Party Leader and talk-show host. He wrote an editorial entitled “After My Banking Terrors, Britain Is Lost” in The Telegraph detailing his nightmare with NatWest, Britain’s largest bank. Farage explained how his account had been deleted and that his friends, family, and business associates have been harassed for their political views.
Then he describes his financial exclusion, as bank after bank refused to accept him. He gives other conservative politicians as examples who also suffered from this. They are not only “unpersoned,” but unable to function in society or do business. “These victims are also subjected to psychological extortion from faceless, vast organizations.” “Their families suffer the exact same fate. ”
Alison Rose, the CEO of NatWest has been fired for having shared Farage’s personal details with a journalist. The bank said that Rose’s resignation was “by mutual consent”. Rose announced her departure just hours after the bank expressed its full confidence.
Howard Davies, chairman of the Bank, said, “This is a sad moment.”
According to a BBC report, the Associated Press reported that Coutts Bank – a NatWest-owned subsidiary and Farage’s bank for 43 years – required a million-pound loan and did not close Farage’s account due to politics.
Rose’s firing is almost certain because Farage released documents detailing the bank’s lies.
Farage then published documents he had obtained from the bank showing that officials discussed his financial affairs, but also the “reputational damage” associated with keeping him as a customer. The documents said Farage was “seen as xenophobic and racist” and “considered by many to be a disingenuous grifter.”
Farage, a master at creating outrage and attracting media attention, claimed that the bank had trampled on his right to freedom of speech. This concern was echoed by some members of the Conservative government.
Farage was not elected to the parliament several times in his career. However, he played an important role in getting Britain out of Europe. It was due in large part to Farage’s stoking fears about immigration.
Andrew Griffith met on Wednesday with executives of Britain’s largest banks to discuss concerns over customers’ “lawful speech”.
Griffith told the representatives of Britain’s biggest banks, “It is not for the banks to dictate to us what to think or to which political party we should support.”
He said: “In an open society, where freedom of expression and thought are valued, it’s not fair for a financial organization to deny someone their bank account. This is an important aspect of modern life. ”
Very well said. I don’t think it will matter too much.
The Treasury of Britain announced last week that U.K. banks will be subject to stricter regulations when it comes to closing customer accounts. They must explain the reason and be given a 90-day notice. Before, they were not required to provide a reason.
While the changes are intended to improve transparency for customers, they do not remove a bank’s ability to close accounts that pose a reputational or political risk.
They will never stop blaming other people for their political differences.