News

The FCA attempted Tuesday to steer the national debate on decisions by banks to deny or close accounts away from controversial Brexit campaigner Nigel Farage and towards the more than 1 million people in Britain who lack access to basic financial services. In August, the regulator began reviewing account closures at 34 lenders and digital payment institutions after Farage obtained and publicly shared internal records showing that Coutts Bank, a private lender in London, sought to cut ties with him this year primarily because he stood at odds with the company's "position as an inclusive organization." Coutts Bank's decision and...