Many MPs falling foul of bank rules on ‘politically exposed persons’, says Philp

Chris Philp, the policing minister, revealed that his own family had faced difficulties accessing financial services. Photograph: Anadolu Agency/Getty Images

Many MPs or their families have been turned down by banks because of “politically exposed persons” (PEP) rules, the policing minister, Chris Philp, has said.

Philp was speaking in the wake of a row over the closure of Nigel Farage’s account with the private bank Coutts, a subsidiary of NatWest.