Farage

[Odds]

The tories will learn all about reputational risk after 10 o’clock tonight. Coutts is a private company and can choose who it likes as a customer. How many plumbers produce a reasoned 40 page report when they drop a customer they don't want to work for anymore.

Blup

The question to be asked is: "why now?"
They've known who he is for decades.
They know his political views and did nothing about the affects on their reputation at any point up to now, even during the Be*it referendum.
So, why now?

 

[Vinty]

Coutts statement literally said Farage is a reputational risk

I didn't know Coutts had a reputation to risk.
Given their history as a financial haven for all sorts of crooks, it's Farages reputation I would be worried about.
Coutts have been fined in the past for money laundering and helping clients evade tax.

 

[transam]

As farage said 38% of the bank is owned by the tax payer

They were bailed out by the tax payer due to there incompetence (?)

Than they start pontificating about standards

Fruit cakes

 

[diy_fun_uk]

I'm no Farage fan, however assuming he's done nothing illegal, this stinks.

So, him aside, we've to assume every other customer on their books does meet their criteria and is as pure as the driven snow?

As others are reporting on, this could be the start of a very slippery slope.

 

[blup]

The question to be asked is: "why now?"
They've known who he is for decades.
They know his political views and did nothing about the affects on their reputation at any point up to now, even during the Be*it referendum.
So, why now?

Read the report, organisations are constantly reviewing values and standards.

Blup

 

[denso13]

No comment on the three pillars of ESG.

All laudable principles to uphold, but it isn't new. Anything specific you need to know?

 

[denso13]

Why are they that disenchanted then they're moving to voting for right wing parties in their droves.

Voting is good. It is the only way to change things.

 

[Brigadier]

The question to be asked is: "why now?"
They've known who he is for decades.
They know his political views and did nothing about the affects on their reputation at any point up to now, even during the Be*it referendum.
So, why now?

Could just be a simple as drawing a line in the sand.

That's what "change" is; a series of lines in the sand. Some, little and frequent; others, significant and infrequent.



I used to train contractors and, part of their training, was protection of their own health.

Many a grizzled 60-something would say, in open class, "I've done it this way for 40 yrs, what point in me changing now?"

To which I'd reply, "it might make a small difference".

 

[motorbiking]

The tories will learn all about reputational risk after 10 o’clock tonight. Coutts is a private company and can choose who it likes as a customer. How many plumbers produce a reasoned 40 page report when they drop a customer they don't want to work for anymore.

Blup

It’s a Regulated business.

I suspect Coutts have many repetitional risky customers.

I suspect they will get more negative PR.

Banks face threat to licences over Farage bank account row

Banks could face conditions on their licences after Nigel Farage said his account was shut over his views.

www.bbc.co.uk

 

[IT Minion]

I'm no Farage fan, however assuming he's done nothing illegal, this stinks.

So, him aside, we've to assume every other customer on their books does meet their criteria and is as pure as the driven snow?

As others are reporting on, this could be the start of a very slippery slope.

It's nothing new. Couts and every other bank does that sort of thing every day. They'll be reviewing all their PEPs in particular to ensure legal compliance as well as reputational risk. I expect they'll do the usual thing of assessing reputational risk against income. If you're bringing in profit then they will accept a higher level of risk.

Remember he was dropped because he didn't meet the threshold anymore as he paid off his mortgage, do didn't qualify. That's in the report he got from Couts.

And he was offered an account with the non-premium brand of the bank. He's whining about nothing

 

[gant]

All laudable principles to uphold, but it isn't new. Anything specific you need to know?

Exactly, they are all laudible in the eyes of those who write the script. If and when cash becomes less and less useful as we are forced down the path of a cashless society and wokeness and the banks are all signed up to these laudible principals, then they effectively have you by knackers.
I wonder how those who protested against Tony Blairs illegal war would feel if a same scenario came round again and found themselves expelled because they didn't fall into line.

 

[diy_fun_uk]

It's nothing new. Couts and every other bank does that sort of thing every day. They'll be reviewing all their PEPs in particular to ensure legal compliance as well as reputational risk.

But remember he was dropped because he didn't meet the threshold anymore as he paid off his mortgage, do didn't qualify. That's in the report he got from Couts.

And he was offered an account with the non-premium brand of the bank. He's whining about nothing

Is that still being looked on as the primary driver for their decision though? I thought he'd received more info through the SAR that disclosed (internal emails?) that perhaps gave a more accurate reflection as to why they wanted to give him the boot?

I'm not saying that to argue against you, it's what I thought the current position on this was ... I might be totally wrong!

 

[IT Minion]

Is that still being looked on as the primary driver for their decision though? I thought he'd received more info through the SAR that disclosed (internal emails?) that perhaps gave a more accurate reflection as to why they wanted to give him the boot?

I'm not saying that to argue against you, it's what I thought the current position on this was ... I might be totally wrong!

I suspect their usual checks flagged him as a risk and so he was reviewed and found wanting. So he got dropped.

If he wasn't a racist xenophobic Putin advocate then they might have given him more leeway.

 

[gant]

The question to be asked is: "why now?"

The electorate have nowhere to turn to as an alternative to the liblabcon pact, perhaps someone has got wind he might be throwing his hat into the ring, which would in effect put the cat amongst the pigeons.

 

[denso13]

Exactly, they are all laudible in the eyes of those who write the script. If and when cash becomes less and less useful as we are forced down the path of a cashless society and wokeness and the banks are all signed up to these laudible principals, then they effectively have you by knackers.
I wonder how those who protested against Tony Blairs illegal war would feel if a same scenario came round again and found themselves expelled because they didn't fall into line.

Here is one. How does any of if relate to what you just written?