I got this glitch aswell, what happened to me was that I came in with my police car really fast (maybe max speed what a cop car can go) with Devon, Funta who were cops and Clara who was a civillian in my vehicle and rammed a bunch of criminals (oranges and reds) with my car outside the bank, suddenly I see myself demoted and stripped from a cop. I didn't ram any civillians by accident, you can ask Devon or Funta as they saw what happened with me.
PS: I am putting this picture here if it could be any help. Unfortunately, I do not have a video recorded.
https://imgur.com/0hUuT2M