News for hackers. Stuff that matters.
Re:Why Banks Are Suddenly Closing Down Customer Accounts by pauldenton on Monday November 06, 2023 @02:30AM (#38159768)
They resigned for telling a journalist that because it was a lie. https://www.reuters.com/business/media-telecom/britains-bbc-... Britain's BBC has apologised to Nigel Farage over a story it ran on the closure of his accounts at NatWest's (NWG.L) private bank Coutts, which the former Brexit Party leader had said was the result of his political views.

The BBC had previously reported Farage falling below the financial threshold required to be a customer at Coutts - whose website advises its clients should be able to borrow or invest at least 1 million pounds ($1.28 million) with the bank or hold 3 million pounds in savings - was the reason for the closure.But an internal review of the bank account obtained by Farage showed the private bank's wealth reputational risk committee had said his values did not align with the bank's own.

"We acknowledge that the information we reported - that Coutts' decision on Mr Farage's account did not involve considerations about his political views - turned out not to be accurate and have apologised to Mr Farage," the BBC said in the corrections and clarifications section of its website.

Re:Why Banks Are Suddenly Closing Down Customer Accounts by tinus_hn on Monday November 06, 2023 @03:57AM (#38160210)
Alternatively the facts were not defensible so they came up with an excuse that was.
Re:Why Banks Are Suddenly Closing Down Customer Accounts by maccard on Monday November 06, 2023 @09:22AM (#38162943)
You've made a jump from the article - it doesn't say it was a lie, it says that it wasn't accurate to say that Coutts decision didn't involve considerations about his political views. They're not the same thing.

No outlets have retracted the claim that he didn't meet the wealth criteria, and nobody has claimed that Coutts lied about him meeting the threshold. In fact, every outlet that I checked today stil claims he didn't meet the wealth criteria, and that the CEO resigned because she discussed details of a client's account with a journalist, e.g. [0]

[0] https://edition.cnn.com/2023/07/26/business/alison-rose-natw...