"19 Republican states accuse JPMorgan of closing bank accounts and discriminating against customers due to their religious or political beliefs" [1][3]. Of course, this site is not favorable to conservatives and their views. Some left activists' accounts are closed as well [2].
[1] https://www.businessinsider.com/republican-states-accuse-jpm...
[2] https://nitter.cz/OccupyWallStNYC/status/1674022837084991489
[3] https://www2.cbn.com/news/us/chase-bank-cancels-nonprofits-b...
No, a subsidiary of NatWest closed Farage's account when he no longer met the investment thresholds for the account he held. The CEO resigned for telling a journalist the above.
That's not the same thing, at all.
The BBC had previously reported Farage falling below the financial threshold required to be a customer at Coutts - whose website advises its clients should be able to borrow or invest at least 1 million pounds ($1.28 million) with the bank or hold 3 million pounds in savings - was the reason for the closure.But an internal review of the bank account obtained by Farage showed the private bank's wealth reputational risk committee had said his values did not align with the bank's own.
"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," the BBC said in the corrections and clarifications section of its website.
No outlets have retracted the claim that he didn't meet the wealth criteria, and nobody has claimed that Coutts lied about him meeting the threshold. In fact, every outlet that I checked today stil claims he didn't meet the wealth criteria, and that the CEO resigned because she discussed details of a client's account with a journalist, e.g. [0]
[0] https://edition.cnn.com/2023/07/26/business/alison-rose-natw...
I believe the account closure was a business decision, but they definitely had no reason to be public about it. One good thing came out of the debacle, though: it put the spotlight on UK retail banking regulations and how they are allowed to treat customers in the first place.
Financial institutions don't like small-time PEPs. They don't net the banks anywhere near the money dictators and kleptocrats do, but are just as likely to engage in ongoing bribery due to their position in society.
0: Farage had apparently been very vocal about having an account with Coutts, and waving that thing around as a sign of ... something. For the bank, that was negative brand value.
The same way that Chase closing a restaurant's account is not evidence that Chase is tasting the food in every restaurant and systematically closing accounts for restaurants that cook food that Chase doesn't like.
Based on that standard template, I won't trust big banks, because, hiding behind BSA, banks can use the blanket statement "because of unexpected activity". Now you ask me to trust Banks, because they can't show that evidence to me.
It's about the big claim that Chase monitors the political activity of their customers and systematically closes the accounts of people with opinions Chase doesn't like.
There's precisely zero evidence that they do this.
Even if one blindly accepts your citations from "The 700 Club" and some random post from "Nitter" as authoritative, even they provide zero evidence for that claim.
Big claims require compelling evidence, and you haven't provided any.
This being said this approach is a pretty wild one still, since people NEED banks, and there should be long duration till the expiration (except in cases of fraud, money laundering, ..)
[1] https://www.reuters.com/business/finance/natwest-meets-quart...
From the Guardian 30 July 2023: <https://www.theguardian.com/business/2023/jul/30/uk-banks-cl...>:
"Farage used a subject access request to discover that, despite initial denials by NatWest subsidiary Coutts, his political views had played a part in the closure of his account."
