Is that true? If so, why isn't Khan apportioning the blame rather than taking the full hit and trying to defend a flawed 'consultation'?or that the Tories forced London to extend ULEZ
Is that true? If so, why isn't Khan apportioning the blame rather than taking the full hit and trying to defend a flawed 'consultation'?or that the Tories forced London to extend ULEZ
Is that true? If so, why isn't Khan apportioning the blame rather than taking the full hit and trying to defend a flawed 'consultation'?
Nigel Farage in talks with Coutts to keep his bank account open
Former Ukip leader in discussions about retaining firm’s services as it ponders major reversal after scandal
Nigel Farage is in talks with Coutts about keeping his account open after the bank appeared to soften its stance over the closure, The Telegraph can reveal.
It is understood there has been an exchange of letters between the former UK Independence Party leader and senior figures at the bank, with discussions about retaining the account ongoing.
The developments mean that Coutts has opened the door to reversing its original decision to close Mr Farage’s account, a move that kick-started the “de-banking” furore of recent weeks.
The Telegraph published the results of a subject access request by Mr Farage, which revealed that his political views were a factor in Coutts’s decision to shut down his account.
Last week both Dame Alison Rose, the chief executive of the NatWest Group, which owns Coutts, and Peter Flavel, the Coutts chief executive, resigned after a backlash against how Mr Farage’s case had been handled.
Major reversal by Coutts
Mr Farage’s Coutts account was due to be closed in the coming weeks. However, he told The Telegraph on Monday: “I am in conversation with Coutts. There has been an exchange of letters. Let’s see where the afternoon finishes up.”
He added that the discussions were about what will happen with his account and his wider relationship with the bank.
Reinstating Mr Farage’s account would be a major reversal by Coutts.
The original step of closing it had been in part an issue of the bank’s reputation management, according to internal information about the case that Mr Farage obtained via his subject access request.
Rishi Sunak has been among a string of senior Tories, to voice concern over the case. The Prime Minister has previously said: “It wouldn’t be right if financial services were being denied to anyone exercising their right to lawful free speech.
“Our new Financial Services and Markets Act puts in place new measures to ensure that politically exposed persons are being treated in an appropriate and proportionate manner.
“Having consulted on the payment services regulations, we are in the process of cracking down on this practice by tightening the rules around account closures. But in the meantime, any individual can complain to the Financial Ombudsman Service, which has the power to direct a bank to reopen their account.”
Totally baffling they didn't do that 3 or 4 weeks back. For such a supposed elite bank, their PR team really isn't very good.
Thing is, in a lot of cases it isn't a matter of banks 'hiding' behind anti money-laundering legislation, but rather that the law doesn't allow them to say anything.Not only is it unacceptable for someone, whoever they are, to be debanked in today's increasingly cashless society, it is also unacceptable for banks to give no explanation whatsoever and hide behind money laundering legislation.
Thing is, in a lot of cases it isn't a matter of banks 'hiding' behind anti money-laundering legislation, but rather that the law doesn't allow them to say anything.
Farage has been a crypto flag waver for years now. Shouldn't be a surprise to anyone watching this current attempt to stay in the spotlight.I'd have put him down as someone who would promote some sort of crypto currency as a way to get people to stop using banks.. There has to be a grift somewhere.
Looks like Coutts have been embarrased into letting Nigel Farage keep his account.
Presumably they hope that by keeping the account open, any wider inquiry into the practice of debanking people for spurious reasons will go away.
Has he accepted their offer of a bank account? Would you in his shoes?
Or is the offer of banking facilities to try to minimise the risk of Farage suing them?
Apparently, the new, temporary CEO of Coutts has made personal contact with Farage.
All his accounts remain open, which he has thanked him for.
He has also served, or is about to serve a legal notice requesting/ demanding formal apologies, recompense for his already large legal costs in dealing with this case and compensation for the slur on his character and reputation.
You may laugh at the last, but the smirk will be on the other side etc, because Coutts alternative would be even costlier and more damaging.
Also the question of data protection breach’s hasn’t been publicly aired. That isn’t a civil matter.
If Farage goes down that route, it’s more likely to be an open and shut case with regard to law.
.
I think this Government is looking to be everyone's friend, and play dumb about being responsible for almost all the problems we're suffering right now.
... or that the Tories forced London to extend ULEZ (now pretending that the Government loves the motorist and would let people drive anything, anywhere),
The reason Mayor Khan is not doing that is because it is not true. Here are the minutes of London Assembly (Mayor’s Question Time) – Thursday 21 July 2022:Is that true? If so, why isn't Khan apportioning the blame rather than taking the full hit and trying to defend a flawed 'consultation'?
The letter from Grant Shapps referred to the initial expansion of ULEZ from its original boundary (the inner London congestion zone) to the North and South Circular Roads. It was written on 14th May 2020 (with relevance to the TfL emergency funding up to October that year) and the extension to the N/S Circular roads was implemented on 25th October 2021.A copy of the letter, from Grant Shapps, has been published in numerous places. I have no idea why the Mayor isn't shifting the blame back to the Tories.
The conclusion that Mr Farage would like us to jump to is that thousands of people are having their accounts closed for their political views. However we have no idea whether that is true. It assumes that:Yes, it will absolutely be settled out of court and Nigel will do well out of all this. Then once he's sorted, he can continue the fight for all the others.
Or, as happened to my parents who now live overseas, they don't respond to [Brexit induced] identity checks in time.People aren't being "debanked" for a valid reason in terms of legislation - e.g. that they are engaged in money laundering or terrorism
Or, as happened to my parents who now live overseas, they don't respond to [Brexit induced] identity checks in time.
Hunts banned from taking card payments in latest example of de-banking
SumUp machines turned off during fundraisers after clubs were being placed on list of restricted businesses
Hunts have been banned from taking card payments by a major financial services firm in the latest example of de-banking.
SumUp, a card reader provider, has included “hunting clubs/activities” on its list of “restricted businesses” alongside “illegal or legally questionable businesses and products”, escort services and fortune tellers.
A number of hunts have had their machines switched off during fundraising events, potentially losing thousands of pounds, The Telegraph can reveal.
Companies linked to shooting are also targeted as “guns, firearms, airsoft guns, munitions sale and distribution” are on the blacklist.
Card readers are used to take payments at events and the move means the hunts are unable to accept credit or debit cards from their customers.
The restrictions have been described as a form of discrimination against rural communities who are “effectively treated as criminals” and have led to calls for an immediate investigation into the financial services industry.
It comes amid concerns about the extent of the banking scandal that first emerged when Nigel Farage, the former Ukip leader, had his Coutts accounts closed because of his political views.
Greg Smith MP, who sits on the all-party parliamentary group on fair business banking, told The Telegraph: “The Farage case of political de-banking has only just blown the tip off the iceberg and it is now quite clear that there is widespread de-banking going on for perfect legitimate and legal activities, of which hunts are one.
There needs to be a much wider interrogation into the entire bank and financial services system in the UK to make sure that people are not discriminating against businesses carrying out perfectly legitimate businesses.”
The Oakley Hunt was among those to discover an issue when its card machine was cut off half way through their point-to-point meeting in Northamptonshire in March. It is the biggest event in their calendar and the shutdown could have cost them thousands.
When the hunt questioned the decision, SumUp said “after a thorough review of your profile we will not be able to provide you with our services”.
It had been using the service for about a year, having registered as the hunt supporters club and passed the vetting procedures, The Telegraph understands.
The Oakley, which has since been provided with a card reader by their bank, later discovered that hunts were on SumUp’s restricted business list.
Polly Portwin, director of the campaign for hunting at the Countryside Alliance, said that it was one of “a number of incidents where events organised by hunts – many of which were raising money for charitable causes – had their accounts suspended mid-way through fundraising, leaving organisers without any means to collect payment and therefore having an impact on the donations subsequently made to good causes”.
She added: “It is disgraceful that members of rural communities and those who take part in a lawful activity can be discriminated against in this way and effectively treated as criminals.”
Mr Farage said that since launching his campaign to establish the extent of the “national scandal” of de-banking he had received a number of complaints about SumUp.
‘Great danger to society’
“These banks and financial services companies are completely out of control,” Mr Farage told The Telegraph. “They are starting to dictate how we can spend our money and what we can do.
“This is a highly political industry which is now a great danger to society. This is happening right through our financial system, and we need to turn the tide.”
SumUp, which says that it has four million business customers, charges a one-off cost for a card payment reader of between £39 and £139 and a transaction fee of 1.69 per cent.
Its restricted businesses also include airlines, political organisations, “get rich quick” merchants and pornography companies. It says it will provide services for not-for-profit companies as long as their services are in “no way be used for raising funds in violation of financial sanction regime regulations, including but not limited to financing terrorism”.
When asked about the ban on hunts, a spokesman said: “SumUp operates under strict requirements imposed by the financial regulator, the card schemes, and our acquiring banks, who we rely on to operate our payment services.
“Therefore, we have guidelines from these external organisations on the types of business that we cannot support, which are clearly defined on our website. Our licence is not unlimited and we cannot support every business model. New restricted categories may be added depending on our partner’s policies.”
They said that they “cannot comment on the specific details of a merchant’s situation” because of GDPR and privacy rules.
However, the named card providers Visa, Mastercard and American Express have said that the restrictions have not been imposed by them as they do not restrict legal activities.
American Express is also listed by SumUp as one of their three “acquiring” banks which processes the transactions. A spokesman said the credit card company said it “does not make customer decisions on the basis of legally held personal or political views”.
A second acquiring bank, EVO Payments International GmbH, said it no longer worked with the company while the third, First Data Europe Limited which is now known as Fiserv, did not respond to requests for comment.
The Financial Conduct Authority has nothing in its Payment Services Regulations to dictate the type of business a payment service provider can work with.
Rishi Sunak has previously said that de-banking is “wrong” and that “no one should be barred from using basic services for their political views”.
Mr Smith, said: “The Government was really strong on their reaction to politicians being de-banked, but that is clearly not where this story ends, this is not about Mr Farage.
“This now needs to be properly investigated as there are a lot of normal people out there who have been de-banked but don’t have their own television show to highlight what has happened to them.”
A HM Treasury spokesman said: “Freedom of speech is a cornerstone of our democracy, and it must be respected.
“That’s why we are changing the regulations so payment service providers must give a reason for closing an account or service, and extend the time needed to close an account to 90 days.
“This protects the rights of customers – providing real transparency, time to appeal and making it a much fairer playing field.”
SumUp isn't a bank.More evidence that people are being de-banked because a financial institution doesn't approve of perfectly lawful activities.
Indeed. No FSCS protections at all. It doesn't count.SumUp isn't a bank.
Indeed. No FSCS protections at all. It doesn't count.
I don't have an issue with such organisations being de-banked, and if I was a business owner I'd seriously be thinking about reputational damage if I was associated with them. I'm not entirely convinced that their activities are "perfectly lawful", but that's a discussion for a separate thread.I know that many people may not approve of hunting, but providing a hunt complies with the provisions of the Hunting Act 2004, it is a perfectly lawful activity, and the organisers should not have banking facilities and payment services denied to them, particularly with no notice or explanation, as is the case here.
Equally, no private business should be forced to provide services to groups involved in activities that the company doesn't support or wish to be associated with - provided they do so in a clear, non-discriminatory and unambiguous manner.They may not be a bank, but no-one should be denied payment services just because the service provider doesn't approve of your perfectly lawful activities.
Equally, no private business should be forced to provide services to groups involved in activities that the company doesn't support or wish to be associated with - provided they do so in a clear, non-discriminatory and unambiguous manner.
I think there are two solutions to squaring this circle : either banks should be legally treated more like utility companies, or government should have a 'bank of last resort' that offers services (personal and business) to everyone regardless of ideology.
They already are. The nine largest banks have to provide basic bank accounts to anyone who applies, as long as they pass identity checks and aren't applying fraudulently. If they decline to open an account they have to provide a justification for the decision.I think there are two solutions to squaring this circle : either banks should be legally treated more like utility companies
They already are. The nine largest banks have to provide basic bank accounts to anyone who applies, as long as they pass identity checks and aren't applying fraudulently. If they decline to open an account they have to provide a justification for the decision.
Nope. Businesses aren't treated as people and have limited rights.Does this apply to business accounts as well as personal accounts?
You could probably add other groups to the list. For example, abortion clinics, animal testing labs, etc, or to the other extreme, if Just Stop Oil was not supported by eco-supporters, then it, too, may find it difficult to find a bank.More evidence that people are being de-banked because a financial institution doesn't approve of perfectly lawful activities.
I know that many people may not approve of hunting, but providing a hunt complies with the provisions of the Hunting Act 2004, it is a perfectly lawful activity, and the organisers should not have banking facilities and payment services denied to them, particularly with no notice or explanation, as is the case here.