News/Commentary

Country music star John Rich joined by Ben Carson, Larry Elder in launching patriotic bank Old Glory

December 11, 2022 | | Print Article

Three legendary conservative figures have teamed up to launch their own independent bank to compete with “other banks” that “have marginalized and ignored, hard-working patriots who keep this country running every day.”

The three — country singer John Rich, conservative commentator Larry Elder, and retired neurosurgeon Ben Carson — have technically just refurbished an old bank, the First State Bank of Elmore City, Oklahoma.

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.

In a statement, Carson said, “Old Glory Bank will serve lower- and middle-income Americans and those Americans that other banks have marginalized and ignored, hard-working patriots who keep this country running every day.”

Over the last couple of years, a number of right-wingers have been “deplatformed” from major banks because of their controversial views.

In 2019, for instance, JPMorgan Chase banned right-wingers Enrique Tarrio, Joe Biggs, Laura Loomer, and Martina Markota, prompting outrage.

“If Jamie Dimon can’t absolutely guarantee that Chase Bank won’t ever discriminate against conservatives, conservatives should consider banking elsewhere,” David Almasi of the National Center for Public Policy Research said at the time.

JPMorgan Chase resurfaced in the news again two years later when WePay, which is owned by the bank, refused to conduct business with a conservative organization.

“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,'” Fox Business Network reported at the time.

But this time, conservatives fought back.

“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,” according to Fox Business Network.

“We won’t be doing business with any bank in the state treasurer’s office that chooses to discriminate against essentially half the population,” Fitzpatrick said at the time on Fox News’ “Tucker Carlson Tonight.”

Listen:

A day after he spoke on Fox News, JPMorgan Chase backed down.

“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,” the bank said in a statement.

Dovetailing back to Old Glory Bank, “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.

Speaking on Fox News’ “Fox & Friends” last month, Rich said anybody and everybody will be allowed at the bank, so long as they haven’t violated the law.

“We all saw Justin Trudeau freeze people’s bank accounts, weaponize their money against them when the truckers protested. I saw this morning in Brazil … the Brazilian government is now freezing people’s bank accounts. So Old Glory Bank is a new banking platform where you cannot be cancelled for exercising your freedom of speech. As long as you’re not breaking the law, you can have an account,” he said.

Listen:

Speaking on conservative journalist John Solomon’s podcast earlier this month, Elder likewise stressed that Old Glory Bank will, just like traditional banks, offer all traditional banking services.

“We offer full online banking services. So those of you who were threatened with having your accounts shut down or you’re with banks that have threatened to have others shut down and you don’t like the values of your bank, there’s a home for you at Old Glory Bank,” he said.

Also appearing on the podcast, Rich said, “They’ve weaponized our bank accounts basically, at this point. There’s a whole group of real patriotic Americans who just believe in freedom of speech, and they wanted to create a new platform for regular Americans to be able to do their business.”

As of mid-December, the bank hadn’t officially launched yet, but conservatives and anyone else were welcome to pre-reserve an account.

Vivek Saxena
Latest posts by Vivek Saxena (see all)

Comment

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the ∨ icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.

Latest Articles