Banks face threat to licences over Farage account row

Ministers are considering putting other conditions connected banking licences aft a enactment implicit the closure of Brexiteer Nigel Farage's relationship astatine Coutts.

It follows reports that lenders could suffer their permits if they chopped ties with customers due to the fact that they disagree with their governmental views.

Mr Farage has accused Coutts of lying astir its decision, saying helium was "cancelled" by the bank.

Coutts says decisions to adjacent an relationship "are not taken lightly".

Government sources told the BBC that the anticipation of putting conditions connected banking permits was being explored, though nary determination had been made.

Banks would besides beryllium required to explicate wherefore an relationship is being shut, and springiness a longer announcement period, nether tougher rules to beryllium brought in.

On Wednesday, Prime Minister Rishi Sunak tweeted that shutting someone's implicit their views was "wrong", calling escaped code the "cornerstone of our democracy".

Meanwhile, Home Secretary Suella Braverman said elsewhere that the Coutts enactment "exposes the sinister quality of overmuch of the diversity, equity and inclusion industry".

The BBC had previously reported Mr Farage had fallen beneath the fiscal threshold needed for an relationship astatine Coutts, a slope for the wealthy, citing a root acquainted with the move.

But speaking connected Radio 4 connected Wednesday, the erstwhile UK Independence Party person said the broadcaster had fallen for "spin" and restated that helium had been targeted for his governmental views.

It comes aft Mr Farage connected Tuesday shared a study from the bank's reputational hazard committee, obtained nether a Freedom of Information request, which states that the Brexiteer's views did not "align with our values".

Mr Farage said that the 40 leafage document, which has since been published successful the Mail, mentioned Brexit and his alleged links to Russia.

"Apparently, I'm a hazard to them. I person virtually nary links of immoderate benignant to Russia whatsoever. This is political. There is nary different mode of looking astatine it," helium said.