Nigel Farage Calls for NatWest Board to Resign Amid Bank Account Closure Controversy
Nigel Farage, the former UKIP leader, has called for the entire NatWest board to resign following the row over the closure of his bank account with Coutts, a subsidiary of NatWest.
Farage said that Dame Alison Rose, the CEO of NatWest, should not be the only one to resign, but the entire board should also go.
He claimed that the board had behaved inappropriately and that they should all be held accountable.
The ex-city minister, Andrew Griffiths, said that Sir Howard Davies, the chairman of NatWest, was already on his way out and there was no need for him to resign.
Griffiths added that a search was underway to find a replacement for Davies, who was expected to retire in the middle of next year.
The row between Farage and NatWest began in early July when Farage claimed that his bank account had been closed without reason.
He later revealed that he had been told that his views "did not align with the values of the bank." In response to the controversy, Dame Alison apologized for making "deeply inappropriate comments" and said that the documents prepared for the Wealth Reputation Risk Committee did not reflect the views of the bank.
Farage had highlighted a discrepancy between the apology issued by the BBC's chief executive, Deborah Turness, and the statement issued by NatWest in support of Dame Alison.
He claimed that the BBC had gone back to the source to check the information, while NatWest stood by their support of Dame Alison.
The City Minister said that it was important that lessons were learned from the controversy, and that the bank should not be telling people what to think or which political party to support.
The BBC has also been criticized for its role in the controversy, with some claiming that it should have verified the information before running the story.
The controversy has raised questions about the accountability of bank executives and the role of the media in reporting banking issues.
It also highlights the ongoing debate about the relationship between politics and banking, and the role of banks in shaping public opinion.
The UK Treasury and data protection regulators have met with the country's leading banks and building societies to discuss the importance of upholding customers' lawful freedom of expression.
The meeting was prompted by recent events that have shaken public trust in the banking sector as a whole.
The Treasury said bank bosses acknowledged that recent events had damaged public trust in the sector, and agreed to bring their policies into line with planned regulations that will make it easier for customers to understand the reasons behind the closure of their bank accounts.
The Information Commissioner, John Edwards, emphasized the importance of banks being transparent and accurate in their handling of customer data.
He reminded banks of their responsibility to the public and urged them not to hold inaccurate information or use data in an unexpected or undue manner.
Banks should also only hold the minimum amount of information necessary and follow the law when it comes to gathering information about politically exposed persons.
The meeting highlights the need for banks to restore public trust by ensuring their policies align with regulations and ethical standards.
With data protection and privacy concerns at the forefront of the discussion, banks must take steps to regain the confidence of their customers and the wider public.