The British bank Coutts & Co. is currently embroiled in what the Wall Street Journal describes as “the biggest financial scandal you’ve barely heard about.” The CEO of the bank as well as the CEO of its parent company were both forced to resign. This all came about because the bank closed the accounts of Nigel Farage, the Conservative Party leader who was one of the chief forces behind the Brexit movement. Farage insisted his accounts had been closed because of political reasons. The bank initially denied this, saying his account balances had fallen below their minimum requirements. But he later obtained documents showing his accounts were closed because the bank felt they might face “significant reputational risks” if they continued doing business with him. And as the WSJ points out, if it happens in the UK, it can happen in America also, and it probably will.Read More
Get ready to have your bank account closed over unapproved speech
