Tag #Banking Scandal

What were the specific reasons provided by NatWest for closing Farage's account, and how do these align with the bank's internal assessment of reputational risk?

The incident highlights the tension between banks' responsibility to manage reputational risks and their duty to maintain client confidentiality. Dame Rose's actions, including discussing Farage's account details with a BBC journalist and providing inaccurate reasons for the account closure, led to her resignation and a substantial payout. The controversy also raises concerns about the potential for politically motivated de-bankings.