Posted on 03/06/2021 2:55:29 PM PST by SeekAndFind
Last month, Gab CEO Andrew Torba revealed that the New Tech site had been banned from three different banks in the space of three weeks. On Friday in a statement posted online, Torba confirmed that yet another bank had banned the site from its services. “It’s getting to the point where we are seriously considering buying our own bank,” Torba said. “Funny how this started happening right when Biden got into office,” he added.
We were banned from the 4th bank in 4 weeks today. It’s getting to the point where we are seriously considering buying our own bank. I’m not kidding. Funny how this started happening right when Biden got into office.
— Gab.com (@getongab) March 5, 2021
As National File reported, one of the banks had expressly confirmed that they could no longer do business with the New Tech site because of “all the bad things the press has written about Gab,” with media reports claiming that the site is an “alt-right social media network,” a “haven for extremists,” and even suggesting that the site “leads to violence”:
“Gab follows the law and operates a legal business in the United States,” Torba told National File. “We sell hats, shirts, and a software license to our GabPRO service. We have a community that respects law and order. Yet we have banks and other services banning us left and right.”
Torba encouraged anyone who believes in free speech to “seek out Christian banks and local credit unions, and to stop doing business with banks that do not share or support American values.” He argued that it won’t be long before “churches, businesses, and individuals who refuse the woke orthodoxy of critical theory that has consumed every corner of our culture” will also be refused service by banks.
“We must proactively cancel them all before they cancel us,” Torba concluded. The banks are not the first financial service to have rejected and “cancelled” Gab – in 2018, PayPal terminated their relationship with the free speech social network.
National File contacted Gab for comment on this story, and will update this article if there is a response.
State chartered banks don’t have to be members of the Federal Reserve. They do, except in very limited cases, have to have FDIC insurance. I don’t know that a special purpose bank that didn’t require FDIC insurance would meet GAB’s need.
Time for “free thinking money” to leave the US and take all their ingenuity and wealth with them.
Nah becoming a bank is easy you can actually create one out of your garage if you really wanted to
On what grounds?
Gab was banned from its fifth bank in 5 weeks
The political redlining continues.
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