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New Credit Card Company Wants To Counter Woke Banks

Coign will let customers funnel donations to conservative causes

JPMorgan Chase CEO Jamie Dimon / Getty Images
• April 26, 2022 8:00 am

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A credit card company launching Tuesday will allow cardholders to funnel cash to conservative causes in an attempt to push back on a woke corporate culture that has seen banks funnel billions to causes like Black Lives Matter and the Clinton Foundation.

Coign, whose advisory team includes former Republican senator Cory Gardner (Colo.), is eschewing those politics, instead allowing cardholders to cast votes on which charities receive their merchant fees.

"Too many corporations are investing their customers' money in political and social priorities that align with their executives, the media, and the left's agenda," Coign founder Rob Collins, a former GOP political operative, told the Washington Free Beacon. "Coign will let conservatives voice their priorities through charitable donations they get to pick."

Credit card companies and banks have ramped up donations to left-wing groups in recent years: JPMorganChase & Co. donated more than $2 billion to Black Lives Matter and criminal justice reform groups in response to the movement's protests, while Bank of America pledged to spend $1 billion on a so-called racial equity program.

The country's top 10 largest credit card issuers, including Chase and Bank of America, gave more than $2.6 billion to Black Lives Matter initiatives after George Floyd's death in 2020 and tens of millions more to other liberal groups, according to data accessed through Foundation Directory Online.

The corporations also donated more than $29 million to the left-wing immigration group UnidosUS, $2 million to the Clinton Foundation, and $1.2 million to pro-abortion groups. Goldman Sachs, meanwhile, has donated $3.5 million to Chinese universities and $5 million to the Obama Foundation.

Seventy percent of American adults have a credit card, according to Shift. There are more than one billion active credit cards in the country.

Published under: Big Banks, woke