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Post by Fairsociety on Jul 26, 2023 19:18:14 GMT
Where does it say they can close them on the grounds of a customers political preference, because that's why Farage and many more people are having their accounts closed?
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.
The Treasury will also reportedly announce plans as soon as next week to extend the notice time given to customers to close their accounts from one month to three months.
It doesn't say that they can close accounts for political preference. It says they can close for risk of reputational damage, though. So, the bank was entirely within its rights to close his account. The only people who claim that the bank closed his account for political preferences are Farage and his gammon army. The bank, supported by its internal documents, claim that it was for risk of reputational damage. The burden of proof will lie with Farage to demonstrate that the bank acted because of his political beliefs rather than a fear of reputational damage. Where is Farage going to get that proof? Without it, he has no case. Wrong again
BBC apology ..
“We acknowledge that the information we reported – that Coutts' decision on Mr Farage's account did not involve considerations about his political views – turned out not to be accurate and have apologised to Mr Farage.”
..are you saying the BBC made that up ^^?
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Post by The Squeezed Middle on Jul 26, 2023 19:19:37 GMT
If he's wise he'll take the money and continue to campaign for further regulation/transparency for the banks. Everyone already knows what Coutts have done, no point dragging out the nitty gritty of that until everyone gets bored. Unless of course they decide to be silly in which case wash that dirty laundry in public. A move which is likely to end Coutts. I agree, he's probably better to take the money and run, the damage has been done, it's already cost the bank £800 million in share losses, I think, or hope they have learnt a valuable lesson, banks don't do politics. Absolutely. Confidentiality and stability is the cornerstone of banking. If a bank can't guarantee those, for all customers, then it's toast. The Swiss banks are probably loving this. |
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Post by Montegriffo on Jul 26, 2023 19:21:56 GMT
More regulation of the banks. Damn, that's the second time today that I've been threatened with having a good time. Bring it on Nige, maybe expose your tax avoiding offshore accounts while you are at it. Tax Avoidance measures are lawful and Off Shore Accounts are also lawful , its Tax Evasion that is unlawful. PS NatWest shares have fallen £600,000,000 today according to the Metro That's why I said avoidance and not evasion. Mind you, Nige has campaigned on closing tax loopholes created by offshore banking so it was a little embarrassing when he was exposed as having offshore accounts of his own. Hypocrisy is an ugly word but it is perfectly valid in his case. Same when he banged on about MEP expenses abuse until it was found that he abused them as hard as anyone else with a 20 year career on the Brussels gravy train. As for NWs shares falling, that has happened to most UK banks today. No doubt partially as a result of London ceding its position as Europe's banking centre to Frankfurt after Brexit. |
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Post by Einhorn on Jul 26, 2023 19:21:57 GMT
It doesn't say that they can close accounts for political preference. It says they can close for risk of reputational damage, though. So, the bank was entirely within its rights to close his account. The only people who claim that the bank closed his account for political preferences are Farage and his gammon army. The bank, supported by its internal documents, claim that it was for risk of reputational damage. The burden of proof will lie with Farage to demonstrate that the bank acted because of his political beliefs rather than a fear of reputational damage. Where is Farage going to get that proof? Without it, he has no case. Wrong again
“We acknowledge that the information we reported – that Coutts' decision on Mr Farage's account did not involve considerations about his political views – turned out not to be accurate and have apologised to Mr Farage.”
That's from the BBC, Numpty! The bank is entitled to consider his views if it causes reputational damage! If, as the bank's internal correspondence supports, the bank thought that he was perceived to be xenophobic and racist, it was entitled to terminate. |
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Post by Einhorn on Jul 26, 2023 19:23:16 GMT
I agree, he's probably better to take the money and run, the damage has been done, it's already cost the bank £800 million in share losses, I think, or hope they have learnt a valuable lesson, banks don't do politics. Absolutely. Confidentiality and stability is the cornerstone of banking. If a bank can't guarantee those, for all customers, then it's toast. The Swiss banks are probably loving this. Yes, Coutts acted very unprofessionally. Let's hope they end up as far down in the mire as possible. Red tells us they have links to slavery. |
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Post by Handyman on Jul 26, 2023 19:35:34 GMT
Tax Avoidance measures are lawful and Off Shore Accounts are also lawful , its Tax Evasion that is unlawful. PS NatWest shares have fallen £600,000,000 today according to the Metro That's why I said avoidance and not evasion. Mind you, Nige has campaigned on closing tax loopholes created by offshore banking so it was a little embarrassing when he was exposed as having offshore accounts of his own. Hypocrisy is an ugly word but it is perfectly valid in his case. Same when he banged on about MEP expenses abuse until it was found that he abused them as hard as anyone else with a 20 year career on the Brussels gravy train. As for NWs shares falling, that has happened to most UK banks today. No doubt partially as a result of London ceding its position as Europe's banking centre to Frankfurt after Brexit. Anyone can have an Off Shore Account , as long as you tell HMRC about them |
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Post by Fairsociety on Jul 26, 2023 20:06:15 GMT
Wrong again
“We acknowledge that the information we reported – that Coutts' decision on Mr Farage's account did not involve considerations about his political views – turned out not to be accurate and have apologised to Mr Farage.”
That's from the BBC, Numpty! The bank is entitled to consider his views if it causes reputational damage! If, as the bank's internal correspondence supports, the bank thought that he was perceived to be xenophobic and racist, it was entitled to terminate. You numpty, that's why the CEO of coutts resigned she was the one who told the BBC his account was closed because he didn't meet the financial criteria the bank required .... then the 'real' reason came out.
The BBC apologised because the CEO of coutts 'lied' to them.
Why don't you actually read about it, instead of posting nonsense.
Watch my lips ... The Coutts CEO had to resign because she told lies to the BBC why Farage account was closed. Coutts have confirmed it was closed because of his political views.
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Post by The Squeezed Middle on Jul 26, 2023 20:18:33 GMT
...Mind you, Nige has campaigned on closing tax loopholes created by offshore banking so it was a little embarrassing when he was exposed as having offshore accounts of his own. Hypocrisy is an ugly word... Or a sensible precaution given what's just occurred. Mr F is after all a financial insider and presumably therefore well acquainted with the risks of having all ones eggs in the same basket. |
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Post by Deleted on Jul 26, 2023 20:31:01 GMT
All campaigning from both sides stopped the day Thomas Mair murdered Jo Cox. There was a big pause in the campaign. Except Hobo Nige. Her death meant nothing to him. |
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Post by Deleted on Jul 26, 2023 20:34:18 GMT
Discrimination and defamation Not sure that political views is a protected characteristic? Should we have a bank for each section of the political spectrum? |
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Post by Pacifico on Jul 26, 2023 20:42:59 GMT
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Post by sheepy on Jul 26, 2023 20:44:21 GMT
Tax Avoidance measures are lawful and Off Shore Accounts are also lawful , its Tax Evasion that is unlawful. PS NatWest shares have fallen £600,000,000 today according to the Metro That's why I said avoidance and not evasion. Mind you, Nige has campaigned on closing tax loopholes created by offshore banking so it was a little embarrassing when he was exposed as having offshore accounts of his own. Hypocrisy is an ugly word but it is perfectly valid in his case. Same when he banged on about MEP expenses abuse until it was found that he abused them as hard as anyone else with a 20 year career on the Brussels gravy train. As for NWs shares falling, that has happened to most UK banks today. No doubt partially as a result of London ceding its position as Europe's banking centre to Frankfurt after Brexit. Nice to see you are overjoyed by the fact that Farage was correct all along. |
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Post by Fairsociety on Jul 26, 2023 20:47:57 GMT
It's a Remoaner plot, I'm in no doubt about that, they will never forgive Farage and the hand he played in Brexit, probably the same reason Johnson was ousted, they just wont let it drop, they've even got their claws into the banking sector, they are also running the Civil Service and still trying to sabotage Brexit, they are a dangerous bunch and they need bringing down.
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Post by Einhorn on Jul 26, 2023 20:52:22 GMT
That's from the BBC, Numpty! The bank is entitled to consider his views if it causes reputational damage! If, as the bank's internal correspondence supports, the bank thought that he was perceived to be xenophobic and racist, it was entitled to terminate. You numpty, that's why the CEO of coutts resigned she was the one who told the BBC his account was closed because he didn't meet the financial criteria the bank required .... then the 'real' reason came out.
The BBC apologised because the CEO of coutts 'lied' to them.
Why don't you actually read about it, instead of posting nonsense.
Watch my lips ... The Coutts CEO had to resign because she told lies to the BBC why Farage account was closed. Coutts have confirmed it was closed because of his political views.
You're very hard to love, Fairy. How many times do you need to be told that no cause of action lies for merely lying? |
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Post by Fairsociety on Jul 26, 2023 20:56:46 GMT
You numpty, that's why the CEO of coutts resigned she was the one who told the BBC his account was closed because he didn't meet the financial criteria the bank required .... then the 'real' reason came out.
The BBC apologised because the CEO of coutts 'lied' to them.
Why don't you actually read about it, instead of posting nonsense.
Watch my lips ... The Coutts CEO had to resign because she told lies to the BBC why Farage account was closed. Coutts have confirmed it was closed because of his political views.
You're very hard to love, Fairy. How many times do you need to be told that no cause of action lies for merely lying? I can't imagine many people refer to you as 'Darling'. |
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