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0 pointsHenryBemis2y ago0 comments

Negative brand value is no reason to debank someone, half musicians that do drugs would give their bank a bad name. There must be a legal basis to debank someone.

I don't like Farage's opinions, and being a PEP only means "more eyes on you", doesn't mean "kick them out". 1) Now, if Coutts dropped the ball on something, shame on them. A good lawyer can get some good ££££ for damaging the client's business/etc. 2) If Farage didn't mean a minimum-net-worth.. that's another story.

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maccard2y ago

Farage didn't meet their net worth requirement, which is why his account was closed. A bit like any retail banking product - e.g. HSBC advance, there can be some slack in how strictly the rules are allied. Coutts decided that since he no longer met their net worth requirements, they didn't want to continue to serve him. They may have decided to continue serving other clients whos circumstances changed though for their own reasons.

If farage had met the requirements, none of this would have happened.

naasking2y ago

> Farage didn't meet their net worth requirement, which is why his account was closed.

Not according to follow-up reports: https://news.ycombinator.com/item?id=38159768

maccard2y ago

That's not what that says. The quote from coutts is even in the HN comment -

> 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

That does not say that he did meet the net worth requirements. See [0], and read the article. No outlet has retracted the claim that he didn't meet the wealth requirements which is why his account was flagged for review.

[0] https://www.theguardian.com/media/2023/jul/21/bbc-amends-sto...

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maccard2y ago

If farage had met the requirements, none of this would have happened.

naasking2y ago

> Farage didn't meet their net worth requirement, which is why his account was closed.

Not according to follow-up reports: https://news.ycombinator.com/item?id=38159768

maccard2y ago

That's not what that says. The quote from coutts is even in the HN comment -

[0] https://www.theguardian.com/media/2023/jul/21/bbc-amends-sto...

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