FCA chief says banks cannot ‘discriminate’ against political views, but chair argues it’s up to Coutts ‘who they do business with’
Nils Pratley: Farage has a point. Coutts should explain itselfExplainer: what are the UK rules on access to banking?
The City regulator has said it has contacted the owner of Coutts bank amid a growing row over its decision to close Nigel Farage’s accounts, but told MPs that while lenders cannot discriminate against customers, it is ultimately up to firms to decide who to do business with.
It came as the prime minister, the home secretary and the City minister waded in to the growing debate over the rights of lenders to shut or refuse accounts based on concerns over customers’ political views.
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