UK banks told to treat politicians more fairly after Farage debanking row

The FCA says that most firms it reviewed did not subject PEPs to excessive checks. Photograph: Toby Melville/Reuters

The UK’s biggest banks have been told by the City watchdog to do more to ensure parliamentarians, senior public servants and their families are treated fairly in the wake of the Nigel Farage debanking row.

In a warning to financial firms – including banks, payment firms and lenders – the Financial Conduct Authority (FCA) said they should not disadvantage people running for office or taking senior public roles.