Banking bosses say Nigel Farage account closure row has hurt public trust in sector – business live

Live coverage of business, economics and financial markets as NatWest Group ousts chief executive Alison Rose following government intervention

Energy minister Grant Shapps has said that banks should stop carrying out politically exposed person (PEP) tests on politicians and their family members, adding to the calls for changes in how banks check clients.

Shapps on Wednesday morning said that the tests, which are in place because of a heightened risk of corruption for politicians from around the world and those with close connections, had gone too far.