The Fabric

The official blog of Old Glory Bank

Here you’ll find stories, videos, financial advice, news, and helpful features on money, America, freedom, patriotism, faith, and family. All the values that Old Glory Nation values.

We named it The Fabric in honor of our glorious flag, the fabric of this great nation.

God bless America and enjoy!

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Man using smartphone

CFPB Sues Big Banks over Zelle Fraud

The Consumer Federal Protection Bureau (CFPB) has filed a lawsuit against three massive banks and the operators of Zelle, Early Warning Services, for failing to protect Americans from fraud on the Zelle network. The suit alleges that three of the banks that own Zelle – Chase Bank, Bank of America, and Wells Fargo Bank – did not implement proper safeguards against payment fraud on the app and also failed to adequately investigate complaints of fraud or assist customers in recovering their money. The banks even told consumers they should contact the fraudsters (i.e., the criminals) directly to get their money returned.

Old Glory Bank
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Finger pressing

How ‘Debanking’ Tech And Crypto Companies Could Kill Businesses

Debanking is real, folks.  

For two years, Old Glory Bank has been the lone voice in the wilderness warning about debanking, the practice of banks closing a customer’s account and refusing to allow them to open a new one, usually politically motivated. Many detractors said we weren’t just crying wolf, but that wolves don’t even exist. Now, after venture capitalist Marc Andreessen shared in a recent interview that more than thirty tech founders have been debanked, our lone voice has been joined by a loud and steady chorus.
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Old Glory Bank
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Man on computer accessing private information

House Judiciary Committee Report: Feds Searched Private Financial Data

Is your bank protecting your privacy, or handing over your data with a simple “please” from the Feds?

Federal investigators have been combing through the financial data - legal consumer transactions – without justifiable cause or legal process. The House Judiciary Committee and its Subcommittee on the Weaponization of the Federal Government, headed up by Chairman Jim Jordan (R-Ohio), has released its interim report, revealing that federal law enforcement conducted broad financial surveillance without warrants.  

Under the guise of SAR, “Suspicious Activity Report”, the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) and the FBI requested the data from multiple financial institutions. Only one is identified as having requested legal process before complying with the request. Other banks voluntarily handed over the information without any sort of search warrant. This unjustified invasion of privacy against law-abiding Americans was tied to specific keywords in their legal consumer transactions. Words like “Trump” and “MAGA,” along with purchases tied to religious retailers and sporting goods stores, were specifically outlined as red flags that may indicate potential extremist behavior.  

The committee writes, "Absent renewed safeguards, the federal government and financial institutions will continue to siphon off Americans’ sensitive financial data, place it into the hands of bureaucrats, and erode any remaining semblance of financial privacy in the United States." 

Fox News has outlined additional information about the report and its findings, including a copy of the Committee’s document:  

Feds conducted 'broad' and 'unjustified' surveillance of Americans' private financial data on Fox News

Feds using banks to surveil Americans' financial data without warrants, House Judiciary says on Fox News

It is precisely this sort of privacy invasion, which we believe has been happening for years and was confirmed by the Subcommittee earlier in 2024, that is the reason behind Old Glory Bank. Law-abiding Americans have a right to their financial privacy, and they have a right to a bank that protects it.

Notice to the Federal 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).  THEREFORE, DO NOT SEND A SUBPOENA TO OLD GLORY BANK THAT YOU DESIRE TO KEEP CONFIDENTIAL BECAUSE WE WILL NOT KEEP IT CONFIDENTIAL.

Join the conversation on X. 

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Texas Flag

Texas is right. The CTA is wrong.

Old Glory Bank celebrates this huge victory for small business owners.  

As we wrote on our blog recently, the Corporate Transparency Act is set to go into effect January 1, 2025. In the nick of time, a federal court in Texas has blocked the CTA, marking a win for small business owners whose privacy has been threatened by the CTA. 
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The Debanking of America

The Debanking of America

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.

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Old Glory Bank
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Image of online banking screen locked out

Yes, Normal People Get Canceled, Too.

I opened my first bank account when I was 16 years old. I’d just gotten my first job at the local video store – remember those? I went with my mom to the bank on the corner, where she had accounts and a personal banker, showed them my shiny (also new) driver’s license, and opened my first checking and savings account. My banker showed me how to write a check and how to fill out a deposit slip for those paychecks because direct deposit wasn’t a widespread concept yet. It was an exciting day. It was a big deal.

Shannon Holden, Vice President - Communications
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