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Lucy Newton, Professor in Business History, Henley Business School, University of Reading

City watchdog finds no evidence for recent political 'debanking' – but private banks have been picky for centuries

Ex-politician Nigel Farage accused his bank of refusing his business because of his political views. Frank 2012/Shutterstock

After a row over the closure of his bank account earlier this year, former politician Nigel Farage has hit out at the UK financial regulator for saying it has found no recent evidence of customers being “de-banked” over their personal views.

Farage believes private bank Coutts closed his account because his political views didn’t align with the company’s values. Coutts and its parent company NatWest Group denied his accusations, saying he didn’t have enough funds to be a customer of the private bank. Farage was offered an account with NatWest’s high street arm but reportedly turned it down as unsuitable.

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