Nigel Farage has claimed to have evidence that the prestigious private bank Coutts shut down his accounts for his 'problematic' views ⬇️ Here's what we know about the row
reports that the Chancellor, Jeremy Hunt, will investigate whether lenders are closing the banks accounts of individuals or companies whose views it disagrees with.The Culture Secretary, Lucy Frazer, speaks out on the row and says she is “concerned people’s accounts might be closed for the wrong reasons”.The BBC reports that the bank in question is Coutts and quoted “people familiar” with the decision who said Mr Farage’s account was closed as he fell below the wealth limit for the bank.
“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,” it added.both reported that Mr Farage’s accounts may have been shut as he fell below the wealth limit for the bank.
The BBC reported that Mr Farage fell below the financial threshold for Coutts, which requires its customers to borrow or invest at least £1m with the bank or hold £3m in savings.quoted “two people close to the situation” who said Coutts’ financial eligibility criteria “could explain an account closure”.
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