NatWest faces questions over backing Alison Rose
Spectator (UK)Aug 04, 2023
The Facts
Alison Rose, the CEO of British bank NatWest, has resigned after admitting to a "serious error of judgment" in discussing the closure of former Brexit party leader Nigel Farage’s accounts at the institution's subsidiary, Coutts, with a BBC reporter.
Information Minister John Edwards will now investigate Rose's disclosure. Some anonymous shareholders have also suggested that the bank’s long-serving chair, Howard Davies, should also step down.
The Spin
Conservative narrative
While the breaking news surrounding Nigel Farage is a cause for hope, the banking establishment is still de-banking political outsiders without just cause and needs to be held to account. Barclays, for example, still has yet to reopen the Christian group Core Issues Trust (CIT) despite having compensated them over $25K for wrongfully terminating their account. These banks are becoming more emboldened by the day, stripping anyone who dares not conform to the mainstream narrative.
Progressive narrative
Banks certainly do prop up some ideologies over others, but not the ones conservatives complain about. The corporate world is only just starting to support marginalized communities who, in the past, had no access to the world's wealth. These self-proclaimed progressive institutions have funded racist politicians for decades, but thankfully, movements like Black Lives Matter have encouraged them to start backing the downtrodden rather than the rich and powerful.
