Bank of Scotland to End U.S. Deal With Robertson

The Bank of Scotland will terminate its fledgling deal to create an innovative new U.S. bank with American televangelist the Rev. Pat Robertson, banking sources said Thursday.

Bank of Scotland said a meeting was scheduled today between Chief Executive Peter Burt and Robertson in the U.S. and that an announcement would be made after that, possibly Saturday morning.

The bank said Wednesday that it was reconsidering the phone banking venture with Robertson after Robertson embarrassed his new business partners by criticizing Scotland.

A spokesman for the venerable Scottish bank said 500 account holders had pulled out since the deal was announced three months ago.

The bank appointed Robertson as chairman of the new, as-yet-unnamed, banking venture and was keen to use his millions of followers as a customer base for its first big step into the U.S. market. But the proposal has come under fire from activists--including gay-rights groups, trade unions and even Scottish churches--who see Robertson as a right-wing fundamentalist.