https://sputnikglobe.com/20230724/uk-city-minister-demands-bank-bosses-guarantee-no-repeat-of-farage-blacklisting-1112104719.html
UK City Minister Demands Bank Bosses Guarantee No Repeat of Farage Blacklisting
UK City Minister Demands Bank Bosses Guarantee No Repeat of Farage Blacklisting
Sputnik International
Brexit leader and conservative broadcaster Nigel Farage has turned the tables on the City of London's financial giants after they denied him basic services over his political views. The PM has since slammed 'de-banking'.
2023-07-24T11:23+0000
2023-07-24T11:23+0000
2023-07-24T19:02+0000
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The UK's financial services minister has summoned banking bosses to demand guarantees they will not close customers' accounts over their politics.Andrew Griffith, the economic secretary to the treasury who also holds the post of 'City Minister' overseeing the City of London finance sector, has reportedly written to the chief executives of 19 companies calling for a conference on the issue.They include NatWest, the bank at the centre of the controversy after its subsidiary Coutts closed the account of Brexit campaign leader and broadcaster Nigel Farage — who was then denied services by seven other banks.Farage, founder of the UK Independence Party (UKIP) and the new Reform Party and star of new conservative TV channel GB News, released Coutts' dossier to him last week, showing the bank's decision stemmed from his "publicly-stated views that were at odds with our position as an inclusive organisation."The 40-page document claimed Farage was viewed as "xenophobic and racist," referring to his criticism of Black Lives Matter protests, the government's climate change policy and his description of Energy Security and Net Zero Secretary Grant Shapps as a "globalist."Shapps has since joined Home Secretary Suella Braverman and Prime Minister Rishi Sunak in condemning the banks' blacklistling of the Brexiteer. Farage has asked for an apology from NatWest CEO Alison Rose, and demanded to know whether was the anonymous "source" who falsely briefed British state broadcaster the BBC that the former City of London broker's account was closed because he was not rich enough for the exclusive private bank's client list.Other so-called "politically-exposed persons" (PEPs), including members of Parliament and their relatives, have since complained of being denied banking services on that basis.Other banks listed are Lloyds, Santander, HSBC, TSB, Metro, Allied Irish, Danske Bank and Bank of Ireland, along with digital finance executives from Monzo, Starling, Chase, PayPal, Revolut and Wise.PayPal was forced to backtrack in October 2022 on threats to seize up to $2,500 in funds from accounts held buy users it deemed guilty of "spreading misinformation" — a common codeword for political dissent in the US.
https://sputnikglobe.com/20230719/uk-energy-minister-slams-coutts-bank-for-closing-nigel-farages-accounts-1111995711.html
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british city minister andrew griffith summons bank bosses, 'de-banking' of brexit leader founder nigel farage, can banks close customers' accounts over their political views?
british city minister andrew griffith summons bank bosses, 'de-banking' of brexit leader founder nigel farage, can banks close customers' accounts over their political views?
UK City Minister Demands Bank Bosses Guarantee No Repeat of Farage Blacklisting
11:23 GMT 24.07.2023 (Updated: 19:02 GMT 24.07.2023) Brexit leader and conservative broadcaster Nigel Farage has turned the tables on the City of London's financial giants after they denied him basic banking services over his political views. The prime minister and several cabinet ministers have since condemned the practice of 'de-banking'.
The UK's financial services minister has summoned banking bosses to demand guarantees they will not close customers' accounts over their politics.
Andrew Griffith, the economic secretary to the treasury who also holds the post of 'City Minister' overseeing the City of London finance sector, has reportedly written to the chief executives of 19 companies calling for a conference on the issue.
They include NatWest, the bank at the centre of the controversy after its subsidiary Coutts closed the account of
Brexit campaign leader and broadcaster Nigel Farage — who was then denied services by seven other banks.
"I am calling a roundtable at the earliest opportunity to hear your views on how you and your firms will ensure that customers can access payment accounts without fear of being de-banked for their lawful expression, and necessary actions to be taken to implement the reforms announced," Griffith wrote.
Farage, founder of the UK Independence Party (UKIP) and the new
Reform Party and star of new conservative TV channel
GB News, released Coutts' dossier to him last week, showing the bank's decision stemmed from his "publicly-stated views that were at odds with our position as an inclusive organisation."
The 40-page document claimed Farage was viewed as "xenophobic and racist," referring to his criticism of Black Lives Matter protests, the government's
climate change policy and his description of Energy Security and Net Zero Secretary Grant Shapps as a "globalist."
Shapps has since joined Home Secretary Suella Braverman and Prime Minister Rishi Sunak in condemning the banks' blacklistling of the Brexiteer.
Farage has asked for an apology from NatWest CEO Alison Rose, and demanded to know whether was the anonymous "source" who falsely briefed British state broadcaster the BBC that the former City of London broker's account was closed because he was not rich enough for the exclusive private bank's client list.
Other so-called "politically-exposed persons" (PEPs), including members of Parliament and their relatives, have since complained of being denied banking services on that basis.
Rules for PEPs are "being applied in a disproportionate manner by some financial institutions," Griffith wrote.
Other banks listed are Lloyds, Santander, HSBC, TSB, Metro, Allied Irish, Danske Bank and Bank of Ireland, along with digital finance executives from Monzo, Starling, Chase, PayPal, Revolut and Wise.
PayPal was
forced to backtrack in October 2022 on threats to seize up to $2,500 in funds from accounts held buy users it deemed guilty of
"spreading misinformation" — a common codeword for political dissent in the US.
