Sunak, Braverman and City regulator wade into Farage banking row

Former Brexit party leader Nigel Farage, whose relationship with Coutts was terminated by the bank earlier this year. The decision has provoked political controversy over the bank’s belief his ‘xenophobic, chauvinistic and racist views’ posed a risk to their reputation. Photograph: Kirsty Wigglesworth/AP

The City regulator has said it has contacted the owner of Coutts bank amid a growing row over its decision to close Nigel Farage’s accounts, but told MPs that while lenders cannot discriminate against customers, it is ultimately up to firms to decide who to do business with.

It came as the prime minister, the home secretary and the City minister waded in to the growing debate over the rights of lenders to shut or refuse accounts based on concerns over customers’ political views.