America’s polarized economy extends beyond the media; it appears that banking has turned against conservative viewpoints. And given that capitalism in America gives people the freedom to start competing enterprises, some conservatives are taking steps to equalize that.
Right-wingers have been “de-platformed” from major banks over the past few years as a result of their divisive ideologies. JPMorgan Chase most recently made Kanye West a victim when it “terminated the business partnership with West. Chase has, however, turned off conservative clientele before.
Right-wingers Enrique Tarrio, Joe Biggs, Laura Loomer, and Martina Markota, for example, were blacklisted by JPMorgan Chase in 2019, which angered many. David Almasi of the National Center for Public Policy Research remarked at the time, “If Jamie Dimon can’t absolutely guarantee that Chase Bank won’t ever discriminate against conservatives, conservatives should consider banking elsewhere.”
Two years later, JPMorgan Chase made headlines once more when WePay, which the bank owns, declined to do business with a conservative group. “WePay had refused to provide ticket payment processing services for the Defense of Liberty organization for an event featuring Donald Trump Jr., citing terms of service which said they would not serve anyone who promotes ‘hate, violence, racial intolerance, terrorism, the financial exploitation of a crime,’” according to a report from Fox Business Network at the time.
However, conservatives retaliated this time.
Fox Business Network reports that “In response, Missouri treasurer Scott Fitzpatrick threatened to have the state stop doing business with the bank, claiming ideological discrimination due to a failure to show evidence of violation.”
Fitzpatrick declared at the time on Fox News’s “Tucker Carlson Tonight” that “We won’t be doing business with any bank in the state treasurer’s office that chooses to discriminate against essentially half the population.”
JPMorgan Chase changed his position a day after he spoke on Fox News. The bank issued a statement in which it effectively apologized when conservative media exposed its partisan behavior: “After further review, we determined that this organization didn’t violate the terms of service, and we are reaching out to the client to discuss reinstating the account.”
It’s enough already. In order to compete with “other banks” that “have marginalized and ignored, hard-working patriots who keep this country running every day,” three illustrious conservative individuals have now teamed forces to establish their own independent bank. The First State Bank of Elmore City, Oklahoma, that the three—country artist John Rich, conservative commentator Larry Elder, and former neurosurgeon Ben Carson—have essentially just renovated.
More on this story via The Republic Brief:
According to a November press release, their own joint company, the Old Glory Holding Company, had just completed clearing “regulatory hurdles” to buy the bank. “First State Bank was founded in 1903 and will be renamed Old Glory Bank. Old Glory Bank will be a chartered, FDIC insured bank, providing digital-first banking solutions throughout America,” the press release reads.
“It will be the first chartered bank to openly support America, its flag, freedom, patriotism, the military and first responders,” according to the press release. “Old Glory Bank promises it will never cancel law-abiding customers for their beliefs or for exercising their lawful rights of free speech. Subject to conditions, Old Glory Bank will have no-fee accounts, free overdraft protection, free ATMs, and early direct-deposit access,” the press release reads. CONTINUE READING…