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Originally Posted by jfman
They’ve also admitted he’s a risk (PEP) - a risk none of the other banks he’s contacted want to take on. Having identified this risk gives them additional administrative and regulatory burdens in dealing with Farage as a client.
If that burden is better shouldered at NatWest, rather than Coutts, I fail to see how they can reasonably have been considered to refuse a service to him.
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Minutes of a meeting of Coutts’ wealth reputational risk committee held on Nov 17 2022 state: “The committee did not think continuing to bank NF was compatible with Coutts given his publicly-stated views that were at odds with our position as an inclusive organisation.
“This was not a political decision but one centred around inclusivity and purpose.”
Mr Farage has said Coutts told him he was not being treated as a Politically Exposed Person (PEP) – a legal term for customers who are deemed risky for political reasons – but the dossier specifically states that he is one.
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The decision was still based SOLELY on his opinions.