FCA launched probe after Nigel Farage ‘debanking’ scandal
The UK’s financial regulator has told banks to make sure politicians and their families are “not treated unfairly” after a review conducted in the wake of Nigel Farage’s “debanking” scandal found some lenders were “getting the balance wrong”.
A scandal involving Reform party leader Nigel Farage’s account closure with private bank Coutts, which is owned by NatWest, last July contributed to putting the treatment of PEPs by banks in the limelight. Farage said he was “debanked” from the elite lender for his political views after obtaining a memo that showed Coutts had called him a “disingenuous grifter” whose views did not align with the bank’s.
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