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The former British politician, Brexit trailblazer and recently embroiled in a ‘debanking’ row, warned the ‘worrying’ trend was on the rise in the US.
Nigel Farage has revealed he spoke to the Trump family about increased ‘debanking’ in the US after Bank of America (BofA) closed its account at a conservative Christian charity that supports poor Ugandans.
Farage, often nicknamed ‘Mr Brexit’ and a close ally of the ex-president, was in the center of world news when his account with Coutts bank was closed. A Bank memo noted concerns that he was “xenophobic and racist” – attitudes inconsistent with the company’s “position as an inclusive organisation”.
He told DailyMail.com: “The situation in America is absolutely as bad as it is in Britain.
“Banks have become political campaign organizations. Unless you have a waking view of the world, you are likely to have this happen to you.
Nigel Farage, often dubbed ‘Mr Brexit’ and a close ally of the former president, has warned that ‘debanking’ is as common in the US as it is in the UK. He is pictured with Trump in 2016
He added, “I actually talked to the Trump family about it.”
Historically, the term “unbanking” referred to instances in which banks limited their financial services to companies they considered to be at risk of money laundering.
But companies are increasingly accused of shutting down the accounts of companies with controversial views due to reputational fears.
Farage – who is now considering setting up a lobby group in the UK to tackle the problem of debanking – said he heard from prominent Republican figures whose accounts had been closed in the US.
He added that he plans to raise the issue with more US politicians.
This week, DailyMail.com revealed that an ‘debanking’ row had erupted after Indigenous Advance Ministries, a Memphis-based nonprofit, alleged that its BofA account had been closed due to its ” religious opinions “.
The organization – which claims to have had a banking relationship with the Bank since 2015 – claims pro-life and anti-gay relationship values on its website. He filed a complaint regarding this issue with the Tennessee Attorney General’s Office.
BofA strongly denies having “unbanked” the body because of these views, telling DailyMail.com that “religious beliefs are not a factor in the decision to close an account”.
Indigenous – formerly known as World Shine USA – opened a new checking account with BofA in January before applying for two credit cards shortly.
On April 24 this year, the bank sent him a letter telling him that his accounts would be closed within 30 days.
Associated accounts belonging to partner entity Indigenous Advance Customer Center and a church operating at the same address – Servants of Christ Community dba University House of Prayer – have also been closed.
The correspondence from BofA stated: “After reviewing your accounts, we have determined that you operate in a type of business that we have chosen not to maintain at Bank of America.”
Representatives for Indigenous said they “repeatedly” asked for explanations about the closure.
On May 24, the organization received a follow-up letter stating that its “risk profile no longer matches the bank’s risk tolerance.”
At the time, Indigenous said they had $270,000 in their deposit account.
Associated accounts belonging to partner entity Indigenous Advance Customer Center and a church operating at the same address – Servants of Christ Community dba University House of Prayer – have also been closed.
Indigenous Advance Ministries has filed a complaint with the Tennessee Attorney General’s office over concerns that their accounts have been closed because the bank disagrees with its “religious views”. Pictured: Steve Happ, Indigenous Founder and Current Board Member, Uganda
BofA strongly denies the charges, telling DailyMail.com that “religious beliefs are not a factor in any decision to close an account”
The correspondence from BofA stated: “After reviewing your accounts, we have determined that you operate in a type of business that we have chosen not to maintain at Bank of America.”
Representatives for Indigenous said they “repeatedly” asked for explanations about the closure.
On May 24, the organization received a follow-up letter stating that its “risk profile no longer matches the bank’s risk tolerance.”
At the time, Indigenous said they had $270,000 in their deposit account.
Under the “Core Beliefs” tab of his website, he endorses a number of evangelical Christian views, including that “all human life is sacred…from conception to natural death.”
He also advocates that “marriage between a man and a woman is the only appropriate context for sexual relations”.
Under the “Core Beliefs” tab of his website, he endorses a number of evangelical Christian views, including that “all human life is sacred…from conception to natural death.”
Bob Phillips, left, is the current board of Indigenous Advance Ministries. Steve Happ, right, is the charity’s founder and board member. Together, the two men wrote to the Tennessee Attorney General’s office for fear of being ‘unbanked’
He also advocates that “marriage between a man and a woman is the only appropriate context for sexual relations”.
A letter to the Tennessee Attorney General’s office, signed by board members Steve Happ and Bob Phillips, read: “I am concerned that Bank of America has canceled our accounts and those of our partners because it does not does not agree with our religious views.”
A BofA spokesperson said the closure was related to a portion of Aboriginal operations, which includes debt collection.
On its website, Indigenous said it was “committed to pursuing the collection of overdue invoices on behalf of our customers.”
Indigenous people are now represented by the legal advocacy group Alliance Defending Freedom (ADF).
Tennessee Attorney General Jonathan Skrmetti’s office has confirmed receipt of the complaint and is reviewing the details of the case.