When Old Glory Bank’s mission began taking shape almost 4 years ago, stories of cancel-culture infecting the banking world were already multiplying. Here we are, years later, aghast at the continued increase of this outrageous trend. At times, it feels like dystopian fiction. It’s not just high-profile political figures. It’s everyday people. It’s charitable organizations that serve orphans. It’s demographic groups deemed high risk because of their religious affiliation or heritage. It’s citizens who make a legal living in an industry such as firearms retailers.
This article from The Free Press is a must-read. We can’t possibly do it justice to summarize it. We share it here with our readers, customers, and fans because it outlines everything that Old Glory Bank has seen and heard since our founding. It underlines the most important reason we are here … because the debanking of law-abiding citizens is WRONG. If we don’t fight back, who will?
As author Rupa Subramanya writes, “Nowhere in the Constitution is there a right to banking, although for the vast majority of Americans, it is a staple of everyday life. But as the financial sector, like most every facet of contemporary society, has moved online—and as every major American institution, including banks, have been politicized—banks have felt compelled to monitor their customers’ political and personal lives. They need to be sure that the brands of the people who bank with them jibe with their own, so that they do not upset too many other customers or potential customers.”
Because most of the uproar about financial cancelation and debanking has come from conservative circles, many have been quick to label it as a conservative talking-point. We’ve never seen this as a political dividing line. This should not be a red versus blue concern. This is not a Democrat versus Republican problem. This is an American problem. This destructive trend impacts all of us, regardless of party preference or voting history.
Debanking is punishment based on opinion, not actual cause. It’s the assignment of guilt without the opportunity to prove innocence. It’s an erosion of our freedoms as Americans. Are you going to wait until it happens to you, or will you take steps to secure your financial liberty now?
Join the conversation with us on social media. What do you think about this trend? Do you know anyone who has experienced debanking?