A new credit card will allow conservatives to counter mandatory funding for woke financial institutions with profits sent to right-wing charities.
Frustrated with big banks embracing environmental, social and governance (ESG) standards at the expense of conservative values and working-class families, a team of prominent Republican operatives is capitalizing on the need to build new institutions that can compete with the hostility of the elites.
Rob Collins, a Republican lobbyist and former executive director of the National Republican Senatorial Committee (NRSC), is part of the new company called “coin(pronounced “piece”). He told The Federalist that his credit cards will be ready for consumers with no annual fee “in a matter of weeks” and ready to facilitate transactions. While Collins said the company is ahead of schedule, its official launch remains at the mercy of industry supply chain issues currently restricting access to microchips.
The card offers unlimited 1% cash back on all purchases as an incentive for consumers to sign up. A portion of the corporate profits will be sent to organizations working on issues important to right-wing voters. Three different models will be available.
“Conservatives are using their cards, and that’s billions and billions of dollars of trade that’s been used to undermine the things we believe in,” Collins said. His business partners include high-profile names such as former Colorado senator Cory Gardner and Republican strategist Chris Hansen, according to to the Washington Examiner. “When we’re all sliced into different cards and accounts, it’s easy to knock us over.”
Although no event motivated Collins to move forward on the project, the founder of the startup that helped Republicans take over the Senate in 2014 said it was born out of frustration that conservatives were “treated as a marginal movement in the public square”.
“We’re the biggest ideological group in America, but we don’t act like one and we’re not treated that way,” said Collins, who began the search for the new venture two years ago when the financial sector was slowly slipping into the center of the culture wars.
In 2019, JPMorgan Chase was accused to purge the accounts of conservative activists. The bank refuse the allegations, but two years later froze donations to Republicans who challenged the 2020 election result.
In West Virginia, Republican Treasurer Riley Moore has already pulled the trigger to terminate the state’s relationship with BlackRock due to the company’s animosity toward fossil fuels and its commitment to communist China.
“As Chief Financial Officer of the State and Chairman of the Board of Treasury Investments, I have a duty to ensure that taxpayers’ money is managed in a responsible and financially sound manner, which reflects the best interests of our state and our country,” Moore said in a statement. press release announcing the decision. “I think doing business with BlackRock is against that duty.”
Moore also led a 15-state coalition pledging to store $600 billion in taxpayer assets elsewhere with companies that refuse to invest in fossil fuels to comply with ESG net-zero emissions standards. Wall Street’s refusal to invest in capital- and labor-intensive industry has been a major impediment to national energy production while hampering growth in states with abundant natural resources.
Ellen Wald, senior researcher at the Atlantic Council’s Global Energy Center, describe Wall Street financial activism offering services based on leftist standards of morality as a “new version of redlining” in The Hill.
While the specific charities likely to benefit from Coign have yet to be announced, Collins said groups working on issues related to veterans, education and religious freedom are examples of organizations that could be chosen. He added that this list was far from exhaustive. Cardholders will be able to vote regularly for different charities, with options based on the transparency and effectiveness of nonprofits.
“We want to do for charities what WinRed did for political giving, which is to empower millions of small donors to have an impact,” Collins said of the opening of a new avenue for silent conservatives to make their voices heard without major engagement.
Tristan Justice is the Western correspondent for The Federalist. He has also written for The Washington Examiner and The Daily Signal. His work has also been featured in Real Clear Politics and Fox News. Tristan is a graduate of George Washington University where he majored in political science and minored in journalism. Follow him on Twitter at @JusticeTristan or contact him at [email protected]