Coutts Performs Volte Farce - Offers To Reopen Farage's Accounts

 

Nigel Farage has said that Coutts is offering to keep his personal and business accounts open. The former Ukip leader had previously accused the private bank of closing his accounts because of his political views.

Farage said that he had received a letter from the new chief executive of Coutts, Mohammad Syed, offering to reinstate his accounts. Syed said that he had "reconsidered the decision" to close Farage's accounts and that he was "happy to welcome him back as a customer."

Farage said that he was "grateful" for the offer, but that he was still considering his legal options. He said that he wanted to understand why Coutts had originally closed his accounts and that he wanted to ensure that no other customers were treated in the same way.

The decision by Coutts to offer to reinstate Farage's accounts comes after a period of intense public scrutiny. The bank has been accused of political bias and of discriminating against customers on the basis of their political views.

In response to the criticism, Coutts has said that it is "committed to providing a fair and impartial service to all of our customers." The bank has also said that it is "reviewing its policies and procedures" to ensure that no other customers are affected in the same way as Farage.

It remains to be seen whether Farage will accept Coutts' offer to reinstate his accounts.

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CEO of Coutts Peter Flavel Resigns

Howard Davies will be next.

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Dame Alison Rose For The Chop?

 

The BBC has finally apologised to Nigel Farage over its misleading story about the reasons for the closure of his Coutts bank account.

The question is did the "high level source" who leaked the misleading information to the BBC apologise to the BBC, and will he/she be fired? 

By happenstance rumours abound that the Treasury want to dump Rose and sell NatWest (it holds around 38% of the shares following the bailout in 2008).

Rumour FWIW is the UK treasury is now behind the move to remove Alison Rose out of Nat West CEO together with the Chairman Howard Davies & CEO of Coutts.
They want to sell the bank to a foreign bank (US & M/E) so keep eye on Nat- West share price £320p is TSY target sell price

— The Cable £/$ Guy (@SwearingForex) July 25, 2023

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Griffith to Summon Banks Over Farage Account Closure

 

Economic Secretary to the Treasury Andrew Griffith has raised "significant concern" over the recent closure of Nigel Farage's bank account with Coutts. In a letter to the bosses of 19 banks, including Barclays, Lloyds and NatWest, Griffith warned that the government is prepared to "take the action necessary" to protect freedom of speech.

Farage's account was closed after he made a number of controversial statements, including calling for a "final solution" to the European Union. Griffith said that he was "concerned that banks may be using their powers to de-platform individuals for their lawful expression."

He has asked for a roundtable discussion with the banks at the earliest opportunity to discuss how they can ensure that customers "can access payment accounts without fear of being de-banked for their lawful expression."

Griffith's intervention comes amid growing concerns about the power of banks to close accounts without giving proper reasons. In recent years, there have been a number of high-profile cases of people having their accounts closed for making controversial or offensive statements.

In 2018, the account of comedian Mark Meechan was closed by PayPal after he made a joke about teaching his pug to do a Nazi salute. In 2020, the account of journalist Owen Jones was closed by Barclays after he wrote an article criticizing the bank's decision to invest in fossil fuels.

Griffith's letter is a clear warning to banks that the government will not tolerate the arbitrary closure of accounts for political reasons. It remains to be seen whether the banks will agree to Griffith's demands, but his intervention is a significant step in the fight to protect freedom of speech.

What does this mean for you?

If you are concerned about the possibility of your bank account being closed for your lawful expression, you should be aware of your rights. You have the right to be told the reason why your account has been closed, and you have the right to appeal the decision.

Make a Subject Access Request as per this guide. 

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