Natwest says no evidence of discrimination in Coutts bank account closures December 15, 2023 Natwest, which owns Coutts, said lawyers at Travers Smith analysed 84 account closures in the two years to July 28, about a 10 per cent sample of all the relevant cases in that time.
Bank chiefs hit back at accusations of profiteering on higher interest rates February 7, 2023 Chief executives from the UK’s four largest lenders today hit back at accusations from MPs that they were too quick to charge customers more interest on their mortgages without offering higher rates on savings accounts. The bank chiefs were asked why interest rates on instant savings accounts remain around one per cent while the Bank [...]
Financial watchdog to ask MPs about debanking experiences August 15, 2023 British politicians are to be asked to reveal whether they have encountered problems or faced being “debanked”, as part of an inquiry by the UK’s financial watchdog. The Financial Conduct Authority (FCA) said it is looking into the rules surrounding politically exposed persons (PEPs), which includes MPs. The regime was thrust into the spotlight after [...]
Treasury Minister says businesses have woke ‘checklist’ – and tells them to stay out of politics August 7, 2023 A SENIOR Treasury minister has said he is “uncomfortable” with businesses “appropriating the views of their customers to make a political point” in a broadside against corporate woke culture. John Glen told the think-tank Bright Blue’s Centre Write magazine that “the mainstream majority of this country want businesses to provide value for money and quality [...]
De-banking a threat to free speech, Hunt says as he asks FCA to investigate August 3, 2023 Chancellor Jeremy Hunt has asked the City watchdog to look into the extent of de-banking, as he said the practice poses a “threat” to free speech. It comes as banks face widespread reforms over account closures, after the Nigel Farage row that last week led to the resignation of the top bosses at Natwest and [...]
Six ways business leaders think Chancellor can fix female entrepreneurship gap March 14, 2023 A group of senior business leaders have called on the Chancellor to use tomorrow’s budget to boost female entrepreneurship – with the UK economy said to be losing out on £250bn a year thanks to a lack of women starting and scaling businesses. Though women in the UK established over 150,000 new companies in 2022, [...]
Nigel Farage threatens Natwest with legal action unless it settles his compensation claim February 16, 2024 Nigel Farage threatens Natwest new CEO Paul Thwaite with legal action with an aim to make "sale of shares very difficult", unless the bank settles "an ongoing compensation claim with him"
Banks agree to protect freedom of expression after Farage furore July 26, 2023 Bank bosses today agreed to protect freedom of expression after they were hauled in for talks with City minister Andrew Griffith following the closure of Nigel Farage’s bank account. In a meeting today with bank bosses in the Treasury, representatives from Natwest, HSBC, Nationwide, Lloyds, Santander and Barclays committed to not ‘debank’ customers because of [...]
NatWest chief Rose receives Damehood in King’s first new year’s honours list December 30, 2022 The head of high street and still partly taxpayer owned NatWest Alison Rose will receive a Damehood in King Charles’s first new year’s honours list since succeeding The Queen. Rose, 53, became the first woman to head a top UK lender when she was made chief executive in November 2019. She has been awarded a [...]
Not helpful if NatWest chair quits over Farage feud, says City minister July 29, 2023 It would not be “helpful” for the NatWest chairman to quit now as the bank seeks to rebound from the crisis over Nigel Farage’s Coutts bank account, the City minister has said. Andrew Griffith, who has led the Government’s response to the row, offered his backing to Sir Howard Davies after days of pressure on the [...]