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A lot to unpack there, Mr RoseI do find it ironic that Coutts, a bastion of the UK's wealthy people and the capitalist system - and banker to the Royal Family - are having a spat with what I'd consider the self promoter of traditional Victorian British values and independence - some might think, looking back to the times of the British Empire? (Ok, perhaps that's some of his supporters speaking out of turn!) Still, some would argue capitalism is based on a dog eat dog culture so perhaps better to leave Mr Farage and Coutts (and NatWest?) to argue it out and, if it improves financial regulations, so much the better? I suspect Coutts and NatWest won't lose much business; as shareholders through our taxes we should hope not.In my experience most high tech and digital businesses, many of which are global and have global stakeholders, have diversity programmes. This allows them to address skills shortages by attacting candidates who have the necessary aptitude and abilities but might otherwise not realise there are career opportunities these in industries. (Something an immigrant to the UK, Stephanie Shirley, successfully pioneered in the 1970s by bringing women into the ICT workforce with a business model enabling them to work from home.) Plus it's a way of avoiding the group think that comes from recruiting in one's own, narrow, image and that can stunt business development and growth. And remember, ICT is now embedded into the heart of all key industries: financial services, retail, travel and transport, telephony (BT's Digital Voice), automotive and other manufacturing …I'd agree Brexit was and still is divisive but perhaps that's something those calling for and creating the referendum should have considered - wouldn't a two thirds majority, like the Scottish independence referendum, been a more sensible threshold for a major, life changing, constitutional change? Those who voted remain are exasperated because there's no sign of the promised benefits from Brexit, only seemingly negative consequences such as the impasse in the Northern Ireland regional government or increased costs and reduction in Eurostar train capacity because of more complex border checks, and what about all those NHS improvements promised from all that retained cash. Good for Mr Farage we still have the privacy benefits of the GDPR :-) Perhaps Coutts are annoyed because they and the NatWest can see evidence of damage Brexit has done to the UK's economy or their businesses? Although I would agree that isn't a reason to close his accounts.Oh, religion: Christian (CoE, Catholic, Orthodox, Quaker, far right creationist/evangelists), Jewish, Hindu, Sikh, ... or were you referring to Muslim organisations and supporting them in the closing or difficulty in opening their bank accounts; sadly, Mr Farage didn't seem to perceive their difficulties as an issue? Perhaps it was lucky he had a GB News programme to bring is to everyone's attention when it affected him but why wait when others experienced it a while ago? And what about UK expats living in the EU who have had their UK accounts closed because post Brexit there are no longer EU/UK cross border banking agreements?However, your reference to G K Chesterton (1874-1936) would seem to suggest to me a return to Victorian CoE religious values of the mine, mill, railway, etc owners? (Sorry if I'm wrong!) They would exploit workers and their families living in poverty, accept a few might die in the pursuit of profit - even support the bringing in of armed troops against those striking and protesting for better conditions - then use their wealth to dress up and go to church to prove how devout and high and mighty they were. It's that hypocrisy with hangovers of it in the 20th century that turned many of us away from religion.Of course there are many individuals in religions who are good people and help others - shouldn't, for example, a good Christian be woke (which I would consider a compliment)? (Looking back we do have the Quakers; Rowntree and the Cadbury brothers had a social conscience about their British workers although I'm not sure how much attention they paid to the conditions of those growing crops overseas?) However, many religions still have a poor track record of sexism and homophobia, and, historically, a bad one of racism, slavery (look at the Fulham Palace exhibition on colonialism) and xenophobia. We are now in the 21st century of machine learning, artificial intelligence, digital transformation, digital currences, genetic engineering, the internet, a global economy, modern slavery, a climate crisis and multiculturalism. Like it or not, life progresses and times change.

Michael Ixer ● 695d

Nigel Farage was only offered an account at NatWest about an hour before he was due to expose Coutts on his GB News show. And even then it was only a personal account, not a business account.Coutts and NatWest have deservedly been pilloried for their politicisation of banking services and their underhand treatment of Farage in particular. The interesting question is how, given that that they actually have a reputational risk committee, they have managed to inflict so much reputational damage on themselves.One explanation is Brexit. The Referendum was simply a debate about the merits of remaining within a political and economic trading block. Unfortunately some of the participants in the debate (on both sides) saw it as a life and death struggle between good and evil. As a result it engendered an extraordinary degree of ill feeling, particularly on the losing side. Some Remainers are still seething with resentment at the figures whom they regard as responsible for Brexit, most notably Nigel Farage and Boris Johnson. It was clearly personal antipathy towards Farage on the part of senior management figures at Coutts that led them, in a reprehensible departure from normal banking practice, to compile a Stasi style dossier on him and close his account.But though Brexit, which was apparently mentioned 88 times in the dossier, was almost certainly the main reason for closing his account, it wasn't the only reason. It is clear  the Bank felt that Farage's general views were at odds with their stated commitment to diversity and inclusivity (however absurd these aims are in a bank where you need £3 million in savings to open an account). In my opinion this woke ideology is the result of the decline in conventional religion. A century ago rich or comfortably off people, who possibly felt some degree of guilt about their wealth, could feel good about themselves by regular church attendance. But now that belief in conventional religion has declined, they need to look elsewhere for moral support. Unfortunately, as G.K. Chesterton said, when people stop believing in God, they believe in anything. And as it is easier to hate rather than to love, their new religion is often composed of beliefs beginning with the word 'anti' - anti-racism, anti-transphobia, anti-Brexit etc. In my opinion the enormously wealthy people who run Coutts and NatWest have convinced themselves that they are good people because they hate Nigel Farage and all he stands for. Only they have lost all sense of proportion. In an excess of quasi-religious zeal they have even been prepared to undermine the democratic norms of our society.

Steven Rose ● 696d

"What are PEPs and are banks allowed to close their accounts?Politically exposed people (PEPs) have "received increased notoriety" following Russia's invasion of Ukraine - but they can come from "all countries and regimes", an expert tells Sky News."https://news.sky.com/story/what-are-peps-and-are-banks-allowed-to-close-their-accounts-12923419"A politically exposed person (PEP) is someone who holds or has held public office and therefore may be more susceptible to bribery or corruption.According to the Financial Conduct Authority (FCA): "A PEP may be in a position to abuse their public office for private gain and a PEP may use the financial system to launder the proceeds of this abuse of office."Examples include heads of state, ministers, members of parliament, members of supreme or other courts, board members of central banks, and high-ranking officers of the armed forces.Relatives, friends and associates of the above can also be considered PEPs, because, the regulator says: "Likewise a PEP's family or close associates may also benefit from, or be used to facilitate, abuse of public funds by the PEP."Steve Goodrich, head of research and investigations at Transparency International UK, says the PEP regime is focused on "kleptocrats, oligarchs and serious organised crime groups moving funds through the UK economy".Are banks allowed to close their accounts?If someone is identified as a PEP the Money Laundering, Terrorist Financing and Transfer Funds Regulations (2017) require their bank or financial institution to take "enhanced due diligence measures".These include getting senior managers to approve the business relationship, regularly monitoring it, and establishing where their money is coming from. They will then be classed as either low or high-risk.Lower-risk PEPs will only require basic monitoring, but higher-risk ones may prove too unsafe."Anti-terrorism regulations hitting in unexpected places?

David Ainsworth ● 697d

Despite Coutts Bank's pretence that Nigel Farage was denied further banking facilities because his accounts fell below the minimum threshold - a version of events uncritically reported by the BBC - documents released by Coutts show that its reputational risk committee severed links with Farage because his political views were at odds with their position as an 'inclusive organisation'. The committee described him as 'xenophobic', 'racist' and a 'disingenuous grifter'. Yet no evidence was presented to support these libels. The dossier only stated that Nigel Farage was 'seen' in this light.This  politicisation of the banking system seems to have flourished at NatWest, which owns Coutts, under the aegis of their Chief Executive, Dame Alison Rose. Dame Alison, who last year took home £5.25 million in pay, has stated that 'our focus on diversity, equity and inclusion is integral to our purpose of championing the the potential of people, families and businesses'. Given that you can't get an account at Coutts unless you have £1 million to invest or £3 million in savings, her professed commitment to diversity is preposterous. And despite her her claim to inclusivity, her bank clearly does not wish to include people with right wing views like Nigel Farage.Depriving people whose views you don't like of the right to have a bank account is clearly at odds with democratic values and sets a dangerous precedent. The extraordinary thing is that this illiberal policy has been instituted by people who evidently consider themselves to be bien pensant champions of social justice. How has this come about?

Steven Rose ● 697d