Farage Demands TSC Reconvene Over Bank Apology

Nigel Farage has told the BBC the Treasury Select Committee offers the right arena to quiz NatWest boss Alison Rose over Coutts' handling of his accounts

Alliance News 21 July, 2023 | 9:42AM
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Nigel Farage

The chief executive of NatWest has apologised to former UKIP leader Nigel Farage for "deeply inappropriate comments" made about him in official papers, saying she is "commissioning a full review of the Coutts' processes" on bank account closures.

It comes after the politician said his bank account was unfairly shut down by private bank Coutts, owned by NatWest, because it did not agree with his political views.

NatWest has come under political pressure in recent days over the matter.

In a letter to Farage, Alison Rose said the "deeply inappropriate comments made in the now-published papers prepared for the Wealth Reputation Risk Committee, do not reflect the view of the bank." She then apologised.

In a statement, she said:

"No individual should have to read such comments and I apologise to Farage for this.

"I have written to him today to make that apology and reiterate our offer of alternative banking arrangements.

"In addition, I am commissioning a full review of the Coutts' processes for how these decisions are made and communicated to ensure we provide a better, more transparent experience for all our customers in the future."

The apology follows a Treasury announcement that UK banks will be subject to stricter rules over closing customers' accounts under changes designed to protect freedom of expression.

On Wednesday, MPs on the Treasury Select Committee had pressed the FCA on the matter when the regulator appeared before a hearing of senior MPs to discuss several serious regulatory issues. Farage now wants the committee to come out of parliamentary recess to address his questions.

"Rather than saying 'right now she ought to go', I think what needs to happen is the Treasury Select Committee needs to reconvene, come out of recess, and give her the opportunity to tell us the truth," he told the BBC.

"Client confidentiality in banking matters, [and] GDPR matters," he said. 

Source: PA


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