Mike Ring on Debanking Why Americans Need a Better Bank
Mike Ring said the quiet part out loud before Washington put it in writing.
Last week, Old Glory Bank CEO Mike Ring joined The Banker Next Door podcast to talk about debanking. Then the Office of the Comptroller of the Currency, the federal agency that oversees national banks, released its report on debanking.
The timing was hard to miss. Like a smoke alarm going off right after someone says, “Does anybody smell smoke?”
Debanking is not a theory
Debanking means a person, business, nonprofit, or group loses access to banking services. Sometimes that means a closed account. Sometimes it means denied payment processing. Sometimes it means a bank suddenly decides a customer is too risky, too controversial, or too inconvenient.
That matters because modern life runs through the banking system.
Paychecks. Mortgages. Rent. Donations. Business invoices. Church fundraisers. Online purchases. Try running any of that with a coffee can full of cash. It gets awkward fast, especially at the mortgage office.
The Office of the Comptroller of the Currency report gives official attention to a problem many Americans have warned about for years. Banking access should not depend on whether a company likes your politics, your faith, or your public views.
De-banking is not a theory. It is a warning.
Mike Ring’s podcast came at the right time
On The Banker Next Door, Mike Ring talked about the issue before the federal report dropped. That matters because Old Glory Bank has made this concern central to its mission.
Interview with Old Glory Bank CEO, Mike Ring: https://www.youtube.com/watch?v=tcoAvTEZSkc
The point is simple. Americans need access to financial services without fear that lawful beliefs will become a banking liability.
Government reports can spotlight the problem. That is useful. Sunlight helps. So does naming the thing plainly.
But oversight alone cannot fix culture. A rule can punish bad conduct after the fact. It cannot force every institution to respect customers before the damage happens.
That is where choice comes in.
Government can expose problems, but the free market fixes them
A federal regulator can investigate. It can publish findings. It can warn banks not to cross the line.
Good.
But customers also have power. Real power. The kind that shows up in account balances.
When Americans discover a company doesn't respect their values, they can leave. They can take their deposits, payments, and trust elsewhere.
That is not complicated. The free market is doing push-ups.
Banking should be no different from any other service. If a business treats people fairly, it earns loyalty. If it punishes lawful customers for holding the wrong opinions, customers should walk away.
Americans can choose a better bank
The best answer to debanking is not panic. It is action.
Listen to Mike Ring’s conversation on The Banker Next Door. Read more about the Office of the Comptroller of the Currency report on the Old Glory Bank blog. Then tell a friend.
Not with a lecture. Nobody needs a 40-minute kitchen-table filibuster before dessert.
Just say this: banking should not punish lawful beliefs.
Most Americans understand that message right away.
A better bank is not a luxury. It is a basic piece of financial freedom. And now is the time to make sure more people know they have a choice.
Source: Old Glory Bank - Read more about the OCC report on our blog. member FDIC
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