Old Glory Bank wraps itself in the American flag and the bogus banner of anti-wokeness to appeal to reich-wingers' grievances and fuel their conspiranoia.
For years I've been harping on the theme of reich-wing/"conservative"/Christofascist
whining -- members of those
interrelated tribes are perpetually griping about being
"censored" or "cancelled" or
"deplatformed" or some such -- so The Great Debanking
Narrative, one of the more recent vintages of the same tired old
red whine, comes as little surprise.
The Great Debanking Narrative holds that good,
patriotic, law-abiding Americans are being "cancelled"
by big banks solely because of their political and/or social and/or religious
values. A driving force in this narrative at the moment is a
relatively new digital financial institution, based in Oklahoma,
that calls itself Old Glory
Bank, which uses the debanking issue as its primary marketing hook.
Formerly the First State Bank of Elmore, Oklahoma,
Old Glory was founded by a quartet of reich-wingers. These
include conservative political commentator, radio host, former GOP
presidential candidate and ardent Trumper/election denier Larry Elder; country music singer and reich-wing zealot/Trump supporter/former Celebrity
Apprentice winner John Rich; former
Trump HUD secretary "Sleepy" Ben Carson;
and former two-term Governor of Oklahoma, Mary
Fallin-Christensen, a woman with
impeccable reich-wing credentials (anti-LGBTQ... anti-public-school-teachers...
anti-affordable-health care...
anti-reproductive-rights...
but pro-Big-Oil and a Trump ally to boot).
Old Glory proudly declares that its mission statement is the United States Constitution, particularly the Bill of Rights, with a focus on the First and Second Amendments. Judging from examples cited in the press release linked to in the previous sentence, that focus is framed in a host of imaginary grievances:
If the government requests that Old Glory Bank punish or cancel a customer for lawfully attending a protest, Old Glory Bank confirms it will not comply. If the government requests that Old Glory Bank cancel a customer for participating in the American lifestyle and using fossil fuels and lawful firearms, Old Glory Bank states it will not comply.
I noticed that the press release neglects to
mention customers who -- armed with tear gas, stun guns, pepper
spray, bear spray, metal bars, flagpoles, baseball bats etc. --
attend a "peaceful tour" of the United States Capitol
Building (which is, after all, the people's building!),
and break its windows, smear feces on its walls and floors,
threaten to murder legislators and the vice president, beat
police officers within an inch of their lives, and attempt to
violently overthrow the United States government in order to keep
their Cheeto Jesus in power. But maybe that wasn't mentioned
because it goes without saying that the J6 "patriots"
are among the oppressed/repressed/censored/egregiously wronged target market for
Old Glory.
Old Glory Bank has been popping up on my Xitter feed frequently
of late, due to its paid ads, most notably this one from October 17, 2023:
Too many law-abiding Americans are having their bank accounts canceled simply because their bank doesn’t like what they stand for. That’s un-American. Old Glory Bank’s mission statement is the Constitution. Open your account today at [old glory bank dot com].
When one reader expressed cynicism about Old
Glory Bank's allegation, the bank responded with a flustercuck of multiple links defending its
opinion that good, God-fearing,
patriotic Muricans are in fact getting debanked solely because of
their anti-woke beliefs and values. That response was
copied and pasted several additional times on the thread, and on
other Old Glory posts where the bank's allegation was challenged.
Links that prove... not much at
all
Since I don't believe in presenting multiple links as a
flustercuck, I'll break them down for you here [with
annotations by me], in the order in which they were
(repeatedly) presented by Old Glory Bank. You can follow the
links and decide for yourself whether or not they actually prove
the allegations or merely document them.
- Business Insider, May 14, 2023: 19 Republican states accuse JPMorgan of closing
bank accounts and discriminating against customers due to
their religious or political beliefs
[Well, technically, it was the republican states' Attorneys General who made the accusation, via a letter to JPMorgan CEO Jamie Dimon. It's no big surprise that these fanatics, several of whom aggressively supported the January 6 insurrection and who were adamantly opposed to even the most sensible COVID mitigation and containment efforts, would be boosting the reich-wing banking conspiranoid narrative. ~CC]
- MSN link (but the original article is
actually from the ultra-reich Daily Caller), August 2023:
Chase Closes Prominent Vaccine Skeptic's
Business Account And Executives' Personal Bank Accounts
[And who is the "vaccine skeptic" in question? None other than alt-health/conspiranoia crapitalist Joseph Mercola, D.O. (Doctor of Osteopathy), to whom this blog has paid tribute on more than one occasion -- most notably via his faithful life partner Erin "The Health Nut" Elizabeth, who invoked the holy name of Mercola several times as she continually fanned the flames of the "dead holistic doctors" conspiracy a few years back. For instance, there's this August 2018 Whirled post (keep in mind that some of the info about Snopes.com ownership is now outdated); see under the sub-head, "Health Nut goes nuts over Snopes piece". And I had this to say in July 2016, under the sub-head, "Dead holistic docs conspiracy rages on." In the more distant-past archives, there's a bit about Dr. Mercola in this August 2014 post, under the sub-head, "Joseph Mercola, sitting pretty at the top of the alt-health heap."
More recently, both Mercola and his faithful Erin became notorious for being some of the most influential spreaders of COVID misinformation on the Internet. According to a New York Times piece from July 2021, "[His activities have] earned Dr. Mercola, a natural health proponent with an Everyman demeanor, the dubious distinction of the top spot in the “Disinformation Dozen,” a list of 12 people responsible for sharing 65 percent of all anti-vaccine messaging on social media, said the nonprofit Center for Countering Digital Hate. Others on the list include Robert F. Kennedy Jr., a longtime anti-vaccine activist, and Erin Elizabeth, the founder of the website Health Nut News, who is also Dr. Mercola’s girlfriend." ~ CC]
- Newsweek, March 3, 2023: PNC Bank Dumping Donald Trump Jr. Leaves
Conservatives Furious -- 'Outrageous'
[The "outrage" was that PNC Bank abruptly closed the business account for a news aggregation company set up by DJTJ, aka Traitor Tot, the easily-triggered, coked-up oldest son of you-know-who. Junior learned everything he knows about the red whine business from his daddy, who is still the undisputed whiner in chief. ~ CC]
- Business Insider, January 17, 2022: MyPillow CEO Mike Lindell says he's 'disgusted'
with 2 banks he claims are cutting ties with him over
'cancel culture' after his phone records were subpoenaed
by the January 6 committee
[Oh, yes. The MyPillow loon, devoted Trumpster, and active supporter of The Big Lie and the violent insurrection/attempt to overturn the United States government. Not exactly the most sympathetic "victim." ~ CC]
- Fox Business, October 13, 2022: Chase Bank allegedly shutters bank account of
religious freedom nonprofit, demands donor list
[Allegations that an unnamed Chase employee said this, that, and the other to a "religious freedom" (translation: Christian theocratic) non-prof. The allegations certainly advance the Christofascist martyr narrative, but aren't actual proof that "people of faith" are being targeted by Big Banking. ~ CC]
- The Daily
FailMail, August 25, 2023: EXCLUSIVE: 'Debanking' row breaks out after Bank of America shuts down account for ultra-conservative Christian charity that serves impoverished Ugandans
[More "Christian" whining. Yawn. ~ CC]
- The Guardian, July 18, 2023: Nigel Farage claims to have proof that bank
closed his account over his 'values'
[Note to Old Glory Bank social media team: Nigel Farage is not an American. And his "values" are fascist ones, but that's neither here nor there. ~ CC]
- The New York Times, February 22, 2022:
Canada Ends Its Freeze on Hundreds of Accounts Tied to Protests
[This article is about the Canadian government and Canadian truckers involved in the great anti-mandate protests in the Deep Covidiocy Era. While technically Canadians are in fact Americans, by virtue of being part of North America (same goes for Mexicans), they're not actually the American Americans being pandered to by Old Glory Bank. ~ CC]
Before you accuse me of engaging in ad
hominem arguments and failing to prove my point, I'll add
that I am aware of the fact that my annotations to the link list
and my criticisms of the debanked accusers do not prove beyond a
reasonable doubt that they were not targeted by their
banks purely for their personal values and beliefs. That said,
the only completely honest statement about the accusations
against the banks is that we just don’t know for sure.
Anecdotal evidence and opinions do not constitute proof.
Much to the credit of Xitter-at-large, there has
been plenty of trolling on the Old Glory ad cited above. Overall
the responses are skeptical, with several folks declaring that
OGB is most likely just another Trumpian grift. (One naughty
wag expressed distrust in a bank that was named after a glory
hole.) Apparently Old Glory gave up on responding to every one of
the doubters. But at least the remarks have been allowed to
stand, so far, so it could be said that OGB is at least honoring
its stated commitment to free speech.
* * * * *
As you can imagine, the reich-wing media were all agog at the news about the formation of Old Glory Bank. For instance, Western Journal had this to say:
Financial organizations including PayPal, Bank of America, JP Morgan Chase Bank, and online fundraisers including GoFundMe have all canceled customers merely because they support conservative causes or traditional American values.
In June of last year, for instance, two Florida-based banks, BankUnited and Professional Bank, canceled President Donald Trump’s accounts after the left falsely accused him of fomenting an “insurrection” on Jan. 6, 2020.
"Falsely" accusing Trump of fomenting
an insurrection... yeah, okay. Totally objective reporting there.
The American Tribune wrote:
A group composed of Larry Elder, Ben Carson, John Rich, and other American patriots has banded together to buy a bank in Oklahoma, First State Bank of Elmore City, so that they can run it as a bank that caters to ordinary Americans that don’t want to be “debanked” for supporting the same values as their ancestors, as many conservatives, particularly those in the punditry and firearms industries, have been in recent years.
So it's all about the guns and the punditry
(gunditry?).
The Daily Wire focused its
announcement about Old Glory Bank on the evil censorship and
"cancellation" of conservatives by Big Tech. Other
outlets basically parroted the Old Glory Bank press releases.
Press releases are the eternal blessing for lazy journalists.
Real values or empty words?
Some might argue that there’s nothing inherently bad about
establishing a business based upon specific political/social
values or principles, nor with choosing that company’s products
or services based on one’s support of those values. It happens
all the time, and certainly there are businesses -- yes, even financial institutions -- that are based on or cater to progressive or liberal
or "woke" values such as environmental friendliness or
social responsibility. Live and let live, give consumers a wide
range of choices, let the market decide, and so forth. And, in
general, I would agree with these arguments, but in the case of
blatantly right-wing factions these days, there seems to be a
glaring double standard.
For instance -- and I hope you'll pardon what might appear to be
a digression -- consider the intensive effort by red (MAGA-poisoned) states in
the US to seriously restrict ESG (environmental, social,
governance) investment of public funds.
ESG investing means, in theory, that in addition to financial
analysis of the investment, environmental, social, and corporate
governance factors are also taken into account.
Never mind the credible argument, calmly and rationally laid out
in this February 2023 piece from The New Republic, that the
whole "woke investors" thing is mostly a fabrication (the CRT of the investment world?), since the so-called
"woke" money managers really care only about their bottom
line. The red pols have deemed ESG to be "woke" and
they don't like it at all -- partly on general [fascist]
principle, and partly or mostly because they reflexively fight
anything that might possibly smooth the transition from fossil
fuels to more sustainable energy. Mustn't let the big oil and gas
companies down.
Accordingly, red states from Texas to Florida to West Virginia
have labored mightily to stop public pension funds from using ESG
as a consideration when making investment decisions, and they
have pulled billions from asset management firms such as
BlackRock, despite concerns that doing so would cause financial
harm. To them, anti-woke values are clearly more valuable than
woke ones, potential adverse financial consequences be damned.
Since we're on the topic of values and principles,
let's get back specifically to Old Glory Bank, which proudly
proclaims its own values as "American" ones while
flagrantly catering specifically to the reich. I wonder, as it
seems that others have wondered (judging from the Xitter trolls)
if the bank would be equally willing to embrace individuals or
companies with blatantly “woke” values such as LGBTQ rights,
racial equality, reproductive choice, assault weapons bans and
other sensible gun safety measures, the phasing out of fossil
fuels in order to address the climate crisis, and the like. And
what about flag burners, who are only exercising their First
Amendment rights, after all? Or advocates of police
defunding/abolition? Would OGB remain true to their slogan, “We
stand with you, no matter where you stand”?
Finally, I think it's appropriate to address Old Glory Bank's
general branding as having the customer's best interests at
heart, as opposed to the evil big banks. I have to wonder why the
reich/republicans -- whose base is clearly the target market for
Old Glory Bank -- seem so determined to undermine larger efforts
at real, widespread banking reform and consumer protection in
general. Yes, I know that unfortunately the banking lobby is so
powerful that even some Democrats, fearing their reelection chances,
joined forces with the republicans in 2018 to weaken banking
regulations. But by and large it's the
republicans who fight regulation of the banking and finance
industries, mainly because they're deeply beholden to Big Banking. Repubs are even trying to destroy the Consumer Financial
Protection Bureau and other
hard-fought-for consumer protection agencies and initiatives.
For that matter, the reich/republicans and their allies seem
hellbent on destroying as many consumer protection agencies, laws,
regulations, and practices as possible, taking us back to the bad
old daze. Xitter owner Elon Musk has
been preaching the word about the urgent need for
"comprehensive deregulation." One of my favorite Xitter
wags, Mrs. Betty Bowers, responded to one of Musk's tweets a couple of days ago:
Bring back: Lead paint. Asbestos. Flammable pajamas. No seatbelts. Canned tuna fish with mercury. Grocery stores bleaching chicken to make it look less rancid. Car companies, like Tesla, endangering drivers with exploding cars. Payday loans that steal from people.
Viewed in that greater context, Old Glory
Bank's expressed concern for protecting their customers in any
substantial way is hypocritical, and their overall mission
amounts to little more than grandstanding on behalf of reich-wing
identity politics. They may be fooling MAGAts, but they aren't
fooling the rest of us.
"Anti-wokeness" is a
growth industry
The marketing strategy for
Old Glory Bank is rooted in two intertwining myths: (1) that the
American reich holds the undisputed monopoly on patriotism,
faith, support for liberty and freedom of speech, support for
first responders and the military, concern about national
security, and every other fine American value you could name; and
(2) that because of their embrace of these stellar values, the
reich are being grievously oppressed by the government, the
courts, the media, Big Tech, the education system, and now, the
financial system as well. In this garbled hero/martyr narrative,
every aspect of American life has been "weaponized"
against the good guys.
As it happens, Old Glory Bank wasn't the first bank to attempt to
do the very thing they accuse big banks of doing: weaponizing the
financial system. In late 2022, a banking startup called GloriFi
collapsed before it had even begun. From Rolling Stone, November 21, 2022:
Pitching itself as a financial institution that allowed one to be “free to celebrate your love of God and country without fear of cancellation,” GloriFi’s marketing read more like a campaign ad than an enticing APR offer on a new credit card. Highlights from the “about us” page include: “OUR BILL OF RIGHTS IS NON-NEGOTIABLE” and “WE ARE ONE NATION UNDER GOD.”
In its short tenure GloriFi, managed to launch checking and savings accounts as well as credit cards, with plans to offer mortgages and insurance in a future that will no longer take place. Founder and CEO Toby Neugebauer pitched plans to offer gun owners discounts on home insurance, credit cards made of shell casing material, and assistance paying legal bills if customers shot someone in self-defense. Over the summer, GloriFi secured conservative commentator Candace Owens as a co-founder and spokesperson for the brand.
Wow... there are those gun-nut/ammosexual values
again. These people are obsessed with their firearms. Alas, GloriFi was unable to put its real-world money
where its grandstanding mouth was. Reported chaos among staff and
financiers, and clashes with Texas financial regulators, caused
it to miss its planned launch date several times. The drinking
habits of Toby Neugebauer, who converted his Dallas mansion into
the company headquarters, didn't help matters at all. In the end,
GloriFi went down in a blaze of... well, not exactly glory.
But the idea of "anti-woke" banking just
wouldn't die, and along came Old Glory, proudly waving its colors
and its ideology. And it's not just banking that has captured the
anti-woke crapitalist imagination. There is a whole parallel economy developing in America, composed of firms whose stated mission is to fight the
perceived threat of "wokeness" -- you know, such
devilish concepts as LGBTQ rights, racial and ethnic diversity
and equality, reproductive autonomy for women, rational gun
safety laws, acceptance of climate science, and so on.
But again... not surprising. Fish gotta swim, birds gotta fly,
fascists gotta fash.
Debunking the debanking narrative?
Maybe it's just the algorithms
Reich-wing whining aside, there are plenty of reasons to hate big banks. I get it. At one time or another, many if not most
consumers (me included) have been frustrated by banking policies
and practices, such as outrageous fees for every activity or
mistake; incomprehensible and seemingly arbitrary terms and
conditions; lousy customer service; systemic racial bias in loan
practices; big banks' support of predatory lenders; lack of
transparency; data breaches; and on and on. And yes, banks have
been known to close customers' accounts for reasons that don't
make sense and/or that the banks refuse to divulge to bewildered
account holders.
And, indeed, if any of the above-mentioned reich-wing whiners'
accounts were closed solely because of their political beliefs or
their faith, that is unacceptable, no matter how strongly I may
disagree with those beliefs.
But from what I have seen so far, there is no hard evidence that
right-wingers/conservatives/religious (translate: right-wing
Christians) are being targeted for those reasons. What we have
instead is only their own and their allies' anecdotal evidence,
rooted, as always, in an intractable persecution complex.
More importantly, suffering consumers are not, in fact, limited
to members of the conspicuously righteous reich. In recent years,
banks have been suspending, restricting, or closing accounts
belonging to a broad demographic of hapless consumers, oftentimes
citing "suspicious activity" as a reason but refusing
to offer the account holders any further explanation.
And while some may claim that attributing the arbitrary actions
to "algorithms" is a convenient coverup for nefarious
activities on the part of the banks, in many cases the problems
may very well be rooted in algorithms, and exacerbated by
confusing and conflicting laws and regulations as well as plain
human incompetence. An article in the New York Times (April 8,
2023) went into these issues in some detail.
Whatever your opinion may be of the Times, the article
is worth reading if you can get past the paywall. For those who
can't, here's a Bing search results link to other resources.
But I really don't expect my little shout into the void to make
any difference at all in the reich-wing persecution narrative,
which has become such rich marketing/fundraising fodder not only
for politicians and theocrats but also for "anti-woke"
businesses such as Old Glory Bank. Reality is nuanced and
complex, but marketing strategies almost never are. The ongoing
attempt to repress the righteous is their story, and by golly,
they're sticking to it.