Nigel Farage Settles Dispute with NatWest Over Debanking Issue
Agreement reached following controversy surrounding account closure related to political views.
Nigel Farage has finalized a settlement with NatWest Group regarding his debanking dispute nearly two years after the closure of his accounts provoked significant media attention and public discourse.
The agreement was announced through a joint statement indicating that the bank has issued an apology to Farage, with details of the settlement remaining confidential.
The dispute gained considerable traction following revelations in July 2023, when Farage accessed internal documents indicating that his Coutts account, a private bank owned by NatWest Group, had been closed in part due to his political affiliations.
This finding stirred controversy, raising questions about the influence of political views on banking practices.
In the aftermath of these revelations, Dame Alison Rose, then chief executive of NatWest, stepped down from her position.
Her resignation was prompted by her admission that she had provided inaccurate information regarding the reasons behind the closure of Farage's account, stating that it was due to commercial considerations instead.
The recent settlement indicates a formal closure to the widely publicized dispute, as both parties expressed satisfaction with the resolution.
The statement from both parties emphasized the confidentiality of the terms, which underscores the sensitivity surrounding the matter.
The agreement was announced through a joint statement indicating that the bank has issued an apology to Farage, with details of the settlement remaining confidential.
The dispute gained considerable traction following revelations in July 2023, when Farage accessed internal documents indicating that his Coutts account, a private bank owned by NatWest Group, had been closed in part due to his political affiliations.
This finding stirred controversy, raising questions about the influence of political views on banking practices.
In the aftermath of these revelations, Dame Alison Rose, then chief executive of NatWest, stepped down from her position.
Her resignation was prompted by her admission that she had provided inaccurate information regarding the reasons behind the closure of Farage's account, stating that it was due to commercial considerations instead.
The recent settlement indicates a formal closure to the widely publicized dispute, as both parties expressed satisfaction with the resolution.
The statement from both parties emphasized the confidentiality of the terms, which underscores the sensitivity surrounding the matter.
