UK: Metro Bank Bars Group From Opening Account

Improve the News Foundation -

Facts

  • According to the organization Our Duty, a group of more than 2K parents who believe gender transitions for children can be physically and mentally harmful, it was blocked by the UK's Metro Bank from opening a business banking account due to ideological differences.1
  • The founder of Our Duty, Keith Jordan, said the bank — the UK's seventh largest bank with 2.5M customers — told them they couldn't open an account because "the content of your website conflicts with the culture and ideas we are pushing."2
  • This comes after Metro last month joined Stonewall’s Diversity Champion program, a charity that supports the removal of gendered language and allows biological men who identify as women to use women's restrooms.1
  • A bank manager also reportedly told Jordan that Our Duty's existing account violated guidelines that stopped groups from being linked to or influencing "political policies or legislations," as it did not allow donations from non-registered charities. In an email, the bank said the decision was made after an "in-depth review."2
  • This follows former Brexit leader Nigel Farage's claim that he has been rejected by Coutts and nine other banks after being labeled a "politically exposed person (PEP)." A BBC report, however, claims his account at Coutts was closed due to failing to meet the financial threshold.3
  • In response to Our Duty's claims, Metro Bank said it "is and will remain politically neutral," adding that "The decision to close or review any account is made for commercial reasons." Coutts has declined to comment on Farage's claims.1

Sources: 1The Telegraph, 2Newsfeeds, and 3ITN.

Narratives

  • Right narrative, as provided by Alliance Defending Freedom. The world's largest banks are signing onto "environmental, social, and governance" (ESG) pledges and acting like financial wings of liberal political parties. In a similar case, JPMorgan, earlier this year, closed the bank account of a US religious freedom organization, effectively ending its ability to function. This is happening to right-wing groups and individuals alike, and it's time for governments to step in and end this predatory and anti-democratic behavior.
  • Left narrative, as provided by CBS. Banks don't just cut ties with individuals or groups for no reason, but they do take safety measures to make sure that their institutions don't fund hateful propaganda that could — and often does — lead to violence. Both traditional banks and newer platforms like PayPal have in the past held accounts for right-wing extremists. These current measures ensure the safety of companies and the public they serve.