Posted on 02/08/2025 4:51:12 AM PST by hiho hiho
By debanking conservatives, JPMorgan and Bank of America may be “debanking” themselves, On The Money has learned.
It all stems from a raft of bad publicity that began with President Trump’s statements in Davos a couple of weeks ago, accusing the nation’s No. 1 and No. 2 banks of canceling accounts of conservatives. It continued with Wednesday’s Senate Banking Committee hearing on the matter.
The result: Some customers began to flee the big guys, and at least one beneficiary has been to a small online bank that is beginning to make a name for itself in conservative circles by claiming to be a safe haven from woke banking.
That would be Old Glory Bank, which bills itself as free from the “cancel-culture and snooping eyes” that big banks employ against conservatives. Officials there tell On The Money that they’ve seen a significant upswing in business following Trump’s broadside in which he called out JPMorgan Chase CEO Jamie Dimon and Bank of America’s Brian Moynihan by name for canceling right-leaning banking accounts.
Old Glory gained over 2,000 new customers in just the first 36 hours after Trump’s comments. The bank also saw an upswing in social media engagement — around 700,000 mentions — of the little-known financial institution. Old Glory CEO Mike Ring even got to take a victory lap by testifying at the hearing, crowing about how cancel culture permeates big financial institutions.
(Excerpt) Read more at nypost.com ...
If one can get rich marketing patiotism (especially if they mean it) then they should rock n roll!
I thought Jamie Dimon would be a lot nastier when it come to Trump than he has.
He said that tariffs could help and kind of took a swipe at those who were against it.
But I think overall, he tilts left.
I dunno.
Dimon most certainly leans left. I’ve been watching him for some time.
I am still not into Crypto investments.
It is an option to large bank’s monopoly and the large banks are given special treatment on reserve requirements. For a long time.
Crypto.com is a legit business, with good reputation. Based in Singapore. That does not change my skeptical attitude.
I haven’t.
I’ll take your word.
I am advocating for a forensic audit of Amalgamated Bank. (Watch the Left scream then
Founders of the Old Glory bank. Country Musician John Rich, Dr Ben Carson, Radio personality Larry Elder.
I’ll assume these guys brought in bright experienced financial types.
Bank of America is awful even without politics. Predatory as hell. I’m happy with my small local credit union.
I’ve been interested in Old Glory since the beginning. I think this is the one started by John Rich, Ben Carson, and Larry Elder.
But I like being able to walk into my bank and you can only do that in Oklahoma. Still, it might be a good idea to start an account with a relatively small amount of money to see how things shake out.
I'ts only 500 bucks, but is a nice little place-holder.
Thanks. Good to know. Do you use ones of their ATMs? They are supposed to be in many locations.
When I was made aware of the debanking of gun industry businesses and then progressively more unfavored individuals and companies I assumed that there is enough of the free market still kicking to produce new banking organizations to service the growing sector of Debanked businesses.
I have been with my CU for near 50 years. They were small and served as a training ground for tellers who would learn the trade there then go to the bigger banks and there were some errors but they were always corrected when discerned and what has truly kept me with it is the fact that my accounts do not dribble away with fees for this and that.
We love our credit union.
Competition from small, patriotic banks is not enough. Political de-banking needs to be BANNED, with bankrupting penalties and jail terms.
People are realizing if they can do it for one person or business then it can be done to them and they’re voting with their feet. It’s symptomatic of the weak leadership that pervades American corporations today. There’s an alpha male revolution taking place.
I think they should be threatened with a loss of FDIC protection. See how many people stick with them then.
Dimon in league with Liz Warren. She gets to debank people and he gets to debank his competitors, like crypto.
HEY!! I own SOL, AVAX, BTC, LINK and UNI!!
Thanks for the heads up!
That jerk.
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