Banks could lose their licences if they close customers’ accounts over their political views, it has been reported. According to The Times, ministers are considering making new laws that stop banks turning customers away in an effort to protect free speech. Nigel Farage tells Julia Hartley-Brewer that he was “genuinely shocked at the hate, the vitriol and the prejudice” from Coutts bank. “You can only get that from privately educated people, normally with double barrelled names, living in the best districts of London.” In a new statement, a Coutts spokesperson said: “We recognise the substantial interest in this case. We cannot comment on the detail given our customer confidentiality obligations. “However, it is not Coutts' policy to close customer accounts solely on the basis of legally held political and personal views. “Decisions to close an account are not taken lightly and involve a number of factors including commercial viability, reputational considerations, and legal and regulatory requirements. “We recognise the critical importance of access to banking. When it became clear that our client was unable to secure banking facilities elsewhere, and as he has confirmed publicly, he was offered alternative banking facilities with NatWest. That offer stands. “We understand the public concern that the processes for ending a customer relationship, and how that is communicated, are not sufficiently transparent.“ #talktv #talkradio #bankaccount #bank #farage
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