Farage

[motorbiking]

Makes sense I guess. Do you think they still would have got rid of him if he'd met their wealth standards?

You understand they took steps to prevent him meeting the commercial requirement? They like two types of customers (As do most banks) those who save a lot and those who borrow a lot but have assets to repay.

 

[carmanmemoranda]

You understand they took steps to prevent him meeting the commercial requirement? They like two types of customers (As do most banks) those who save a lot and those who borrow a lot but have assets to repay.

What's wrong with natwest then

 

[motorbiking]

I bet they have lots of customers that they are not really comfortable with.

But with enough finances to accept as a customer in that division of the bank, and not the poor peoples bank, natwest.

Mbk keeps arguing about his account being closed, but glosses over he can still bank with the same group. Just on ordinary terms, not special high finance terms.

Farage does know how to keep his supporters behind him.

It’s not what happened though is it? Providing its terms of closure are lawful, I have no problem with a bank downgrading a customer account.

The issues here are :
- they broke banking law by discriminating against him on protected grounds
- they appear to have acted in bad faith by taking steps to engineer him out on commercial grounds by refusing to extend his mortgage, perhaps in the knowledge that the dodgy dossier had legal problems on its own merit - basic tort
- they initially failed to provide him with alternative banking - legal requirement
- they commissioned and distributed a highly defamatory document based on opinion and hearsay as well as false allegation. This went far beyond any KYC obligations.
- they breached his confidentiality and shared personal data in briefing the press that he was now too poor for an account. unlawful.

apart from that they did a good job.
The offer of an alternative account probably occurred after they conducted a legal review and started damage limitation

 

[carmanmemoranda]

There are 2 clear issues.

Financial, he doesn't meet the requirements but can do with natwest

Personal. The bank got that wrong.

Will farage sue ? Hope he does, let's see what comes from it

 

[motorbiking]

I suspect they will offer compensation in exchange for his silence. In his shoes I’d probably push for 50k, it’s probably worth double and some sanctions on whichever Sloane ranger in the bank that was trying to dance the Wokey-Cokey.

 

[gant]

On a wider issue how much has this damaged the British financial industry on the world stage?

 

[noseall]

On a wider issue how much has this damaged the British financial industry on the world stage?

Massively reinforced its rep.

 

[motorbiking]

Some new rules to protect consumers appear to be coming which is good. A bank with a reputation problem has a bigger reputation problem. So what.

rich Arabs, Sloane rangers, gangsters etc will continue to enjoy banking with private banks.

 

[carmanmemoranda]

rich Arabs, Sloane rangers, gangsters etc will continue to enjoy banking with private babanks.

Which proves the point that the financial criteria was the important part of farage not being wanted at coutts

 

[fillyboy]

Which proves the point that the financial criteria was the important part of farage not being wanted at coutts

 

[carmanmemoranda]

Still digging your hole but changing subject?

Grow up and try and be an adult

 

[motorbiking]

you can’t be so dumb that you keep missing the point this many times.

 

[carmanmemoranda]

you can’t be so dumb that you keep missing the point this many times.

Nor can you

 

[fillyboy]

Still digging your hole but changing subject?

Grow up and try and be an adult

Still flogging dead horses?

 

[carmanmemoranda]

Still flogging dead horses?

Still not an adult ?