Eric Ohlhausen Takes a Stand Against Cancel Culture in Banking
In today's digital age, cancel culture has evolved from a niche social media phenomenon to a pervasive societal issue, affecting individuals and businesses alike.
Defined as the practice of withdrawing support for public figures or companies after they have said or done something deemed objectionable, cancel culture has sparked significant debate about its impact on free speech and personal expression.
According to a Politico.com survey, nearly half of Americans believe that cancel culture has gone too far, highlighting widespread concern about its effects on society.
The implications of cancel culture extend beyond social media shaming. Financial institutions have increasingly found themselves at the center of this debate, with cases of individuals and businesses being "debanked" due to their beliefs or political affiliations.
This intersection of finance and cancel culture has created a climate of uncertainty and fear for many. Eric Ohlhausen, chief strategy officer and president of Old Glory Pay, is at the forefront of addressing these concerns within the banking sector. His extensive experience in financial services has equipped him to navigate the complex landscape of modern banking while upholding traditional values.
Ohlhausen's leadership is a testament to the possibility of integrating innovation with a firm commitment to protecting individual freedoms.
In recent years, several conservative businesses have faced challenges with payment processors. For example, companies have had their services terminated due to their political affiliations or the nature of their products, such as firearms or politically conservative merchandise.
These actions have left many businesses scrambling to find alternative solutions, often at higher costs and with fewer options (Wonder) (markets.businessinsider.com).
"In about a year and a half of starting Old Glory Bank, we now have tens of thousands of customers," Ohlhausen notes. "We have customers in all 50 states, and we are excited to have a product that speaks to a lot of people and has great technology behind it."
This rapid growth reflects a broad resonance with Ohlhausen's vision of a bank that stands against cancel culture.
A key innovation under Ohlhausen's leadership is Old Glory Pay, a payment solution designed to ensure secure transactions within the Old Glory ecosystem. This service protects customers from the arbitrary cancellations that have become common in the financial industry.
Unlike many financial institutions today, Old Glory Bank guarantees the privacy and security of customer data, a stance that appeals to those concerned about cancel culture the overreach. The bank’s commitment to privacy and security is further exemplified by its FDIC-insured status, providing customers with the assurance that their deposits are protected.
As Dr. Ben Carson, one of the bank's prominent figures, aptly states, "Old Glory Bank is FDIC-insured, so your money is protected up to $250,000 per depositor, but we will never cower to government overreach."
Moreover, Ohlhausen champions initiatives aimed at supporting small businesses and local communities. These initiatives include promoting financial literacy and offering flexible business banking solutions, such as SBA loans.
These efforts highlight the bank's role in sustaining the backbone of America’s economy — its small businesses. In an era where cancel culture and political correctness often dominate, Eric Ohlhausen stands out for his steadfast commitment to upholding individual rights and freedoms.
By prioritizing customer privacy and supporting lawful activities, he positions Old Glory Bank as a guardian of traditional values in a rapidly changing financial landscape.
Ohlhausen’s approach reflects a broader need for leaders who resist the pressures of cancel culture and protect the principles of free speech and personal liberty.
As debates about censorship and accountability continue, his stance offers a model for how financial institutions can navigate these complex issues while maintaining a commitment to their customers' rights.
