Here’s Why It Matters, and Why Old Glory Bank Is Different.
A class-action lawsuit has been filed against Bank of America by their customers who used their debit card in DC around January 6, 2021, alleging that the bank went far beyond what customers reasonably expect when it comes to financial privacy.
Filed in the U.S. District Court in Florida, the lawsuit alleges that Bank of America:
- Data-mined transaction and geographic data to identify customers who used Bank of America cards in the Washington, D.C. metro area between January 5 and 7, 2021.
- Cross-referenced this group with anyone who had ever purchased a firearm using a BofA product, regardless of time or location, elevating them to the top of the surveillance list.
- Searched for other customers with legal but “no-crime” purchases or planned travel back to the capital region during that timeframe.
- Shared these findings with law enforcement and the Financial Crimes Enforcement Network (FinCEN), going beyond standard anti-money laundering obligations and potentially violating the Right to Financial Privacy Act of 1978.
Their customers call this an “unprecedented warrantless surveillance” and a “stunning violation” of financial privacy laws, claiming that Bank of America’s approach “weaponized customer data” and exceeded requirements under the Bank Secrecy Act (steps normally associated with tracking criminal or terrorist financing), and breached the Right to Financial Privacy Act by disclosing private financial data improperly.
This lawsuit emerges amid an intensified wave of scrutiny from Republican lawmakers, including House Judiciary Chair Jim Jordan, who accuse banks of "debanking" or surveilling individuals based on their political leanings. Testimony shared with congressional subcommittees cites Bank of America’s actions as “voluntary” cooperation with the FBI, producing lists of customers who had used cards near the Capitol and prioritizing those who had purchased firearms.
Old Glory Bank’s President and CEO, Mike Ring, testified before the Senate Banking Committee about Debanking in February 2025, sharing the reasons behind Old Glory Bank’s founding, the most significant being the alarming trend in debanking in America and improper, surveillance, under the guise of regulatory obligations.
Bank of America denies the allegations outlined in this class action lawsuit and says it followed applicable laws and regulations in sharing information with the government and law enforcement agencies. The case will now move through the courts, and the outcome remains to be seen. But regardless of where you stand politically, the core question deserves attention:
Should banks be able to quietly search and share your lawful financial activity, even when you’re not suspected of a crime?
Why this case is striking such a nerve
The lawsuit argues that the problem wasn’t about investigating criminals; it was about casting an overly broad dragnet that swept up completely lawful behavior.
As the complaint describes it, the searches were not narrowly targeted. Instead, they allegedly captured anyone whose purchases placed them near Washington, D.C., during that time, whether they were working, sightseeing, or even counter-protesting.
This raises concerns that go far beyond one political moment:
Will financial data be used in the future to track people based on where they travel?
Will lawful purchases like outdoor gear, religious materials, or political merchandise become triggers?
Most importantly, who decides what counts as “suspicious?”
If banks can proactively mine customer data for political or geographic cues without court orders, it raises the specter of routine, unchecked surveillance of lawful citizens using private-first systems.
That belief isn’t partisan. It speaks to something deeper: trust.
Trust is the foundation of banking
When you open a bank account, you expect a few basic things:
Your money will be secure.
Your data will be protected.
Your bank won’t quietly profile you or treat your lawful choices as suspicious.
Whether or not Bank of America is ultimately punished in court, the allegations highlight a reality Americans are waking up to:
Some large financial institutions appear more comfortable sharing data and policing behavior than defending basic customer privacy. A ruling against Bank of America could redefine obligations under the Right to Financial Privacy Act, and limit what private institutions can share with law enforcement in absence of a warrant.
Until the offenders are held accountable, America needs a bank that puts their Privacy, Security, and Liberty first. .
That is exactly why Old Glory Bank was created.
How Old Glory Bank is different
Old Glory Bank was founded with a simple promise:
We will never debank you because of your lawful beliefs, purchases, or associations.
We believe that financial privacy is part of personal freedom. That means:
✅ We don’t “data-mine” customers for ideological reasons.
✅ We don’t quietly flag lawful transactions because of politics or optics.
✅ We don't comply with unlawful orders to provide your financial data to any third-party, including the government.
IT IS OLD GLORY BANK’S UNWAVERING POLICY THAT WE WILL INFORM CUSTOMERS OF EACH SUBPOENA UNLESS EXPRESSLY PROHIBITED BY LAW (WHICH IS RARE).
We comply with the law, including genuine investigations into real criminal activity, as every responsible bank must. But we reject the idea that banks should proactively build ideological watchlists or profile customers based on where they went or what they legally purchased.
Because in a free society, lawful Americans should be able to trust their bank to stand with them.
The bigger conversation ahead
This lawsuit likely won’t be the last. As financial systems become more digital, the pressure to monitor, and sometimes control, customer activity is only growing.
But Americans still have a choice.
You can choose banks that see themselves as extensions of government oversight…
—or—
You can choose a bank that believes your money, your privacy, and your values deserve respect.
At Old Glory Bank, we’re committed to standing firmly on the side of financial freedom, constitutional principles, and common sense. No politics. Just privacy, dignity, and service to everyday Americans.
Choose the bank that values your values.
Learn more and open an account today.
What can you do?
Please join our CEO Mike Ring, who started an Old Glory Alliance page for this small freedom loving Florida-based law firm fighting Bank of America in this lawsuit. This type of lawsuit is expensive, and we know Bank of America is going to try and wear them down with legal maneuvers. Every dollar helps. Please visit Old Glory Alliance if you wish to contribute.
