Cancel-Culture Hits America’s Banking System—How to Protect Yourself
The cancel culture is creeping rapidly into our banking system. It now threatens individuals and entire industries that don’t adhere to the woke orthodoxy that infects so much of society. Often called De-Banking, the practice serves to punish outspoken individuals, drive policies that can’t succeed in the legislature, and appease the threats of a vocal minority.
Conservative? Outspoken? Prepare to be De-Banked!
Shockingly, big banks and financial services businesses are deciding who gets to participate in our financial system. They’re using subjective litmus tests based on political policy rather than relying on traditional financial factors. Examples include Bank of America and USAA canceling the accounts last fall of Trump attorney John Eastman1; Chase Bank canceling the business accounts of Covid critic Dr. Joseph Mercola (including the accounts of his executive team and their spouses!); Chase Bank closing the credit card account of conservative documentary producer Dinesh D’Souza; Minnesota Bank & Trust canceling the accounts of My Pillow founder Mike Lindell; and online payment processor Stripe canceling the fundraising site of President Donald Trump. Sadly, the list goes on.
The offending banks often won’t even reveal to the customer the reason for their account being closed. Other times, they lean on the vague excuse of “reputation risk.” That’s right, subjective, partisan criteria are being used to weaponize our financial system!
Old Glory Bank—Your Protection against Being De-Banked
To push back on America’s cancel culture, a team of patriotic Americans founded Old Glory Bank, a full-service, online bank that serves individuals and businesses in every state of the union. Co-founders include Ben Carson (former Secretary of Housing & Urban Development), Larry Elder (TV/radio host and past candidate for US President and California governor), and John Rich (country singer/songwriter). As the bank of the Freedom Economy, FDIC-insured Old Glory Bank promotes America, supports our country’s military and first responders, and promises not to cancel its customers for their views or the industry they operate in. Old Glory Bank’s mission statement: The US Constitution. It’s motto: “We stand with you. No matter where you stand.”
Entire Industries are Being Shunned
“De-banking is un-American,” you might respond. “But I’m low-profile. What bank would actually pay attention to my views?” Sadly, more Americans are being targeted than realize it. Do you work or invest in the fossil fuels industry? Many big banks have committed that they and their customers will be net carbon neutral by 2050. That can only happen by de-banking the oil and gas industry and limiting the financing extended to it. The discrimination is so pervasive that West Virginia, in April of 2024, warned a long list of institutions against the practice, including Citi, TD, HSBC, and Northern Trust Co (on top of BlackRock, Goldman Sachs, Chase, Morgan Stanley and Wells Fargo, who already had been warned)2.
Do you produce, sell or purchase firearms or ammunition? Then your financial tools are being limited already. Within PayPal’s Acceptable Use Policy, the same paragraph that prohibits its use for transactions related to stolen goods and controlled substances also prohibits transactions related to firearms or ammunition (that’s right, lawful, constitutionally protected activities being treated the same as completely illegal activity).3 Bank of America stopped lending to manufacturers of certain popular rifles4. And Wells Fargo closed the accounts of Florida-based dealer Wex Gunworks.
In May of 2023, nineteen state attorneys general warned Chase Bank about religious and political discrimination due to its practice of disenfranchising certain customers. Chase closed the accounts of the National Committee for Religious Freedom, a non-partisan, multi-faith nonprofit, and of the Family Council, a pro-life organization.5 Chase initially told the NCRF that its accounts would be reinstated only if they provided a list of its donors and the political candidates they planned to support. After public outcry, Chase backed down.
After Trump attorney John Eastman was canceled by Bank of America and USAA, both of which have increasingly embraced ESG and the woke culture, he knew there was just one bank he could rely on to treat him objectively: Old Glory Bank. Tens of thousands of others have done the same and chosen not to financially support organizations that consider them, and others like them, unworthy of participating in the US economy. Plus, Old Glory Bank delivers a rare combination of strong technology, US-based customer service and innovative products.
Banks: The Shadow Legislature
In 2023, America’s Top 5 banks held over 51% of the market’s deposits. By discriminating against lawfully operating individuals and companies, simply for ideological reasons, America’s big banks are effectively implementing national policies that haven’t proven to be acceptable to lawmakers or the general population. Americans can push back against the scourge of de-banking, as well as protect against being financially canceled themselves, by banking with Old Glory Bank, the only bank to fully support financial liberty and the Constitution.
