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liberethos_paradigm/us_banks.md

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2021-01-17 21:34:10 +01:00
| ***financial institution*** | ***political party*** | ***ALEC*** | ***CISPA*** | ***drug testing*** | ***finances private prisons*** | ***Tor-hostile*** | ***environmental abuses*** | ***other ethical problems*** |
|--|--|--|--|--|--|--|--|--|
| Bank of America | 🐘 | ~~👌~~ (dropped) | 🚨 | 🔎 |🚓 ([will stop](https://www.reddit.com/r/news/comments/c5vlsg/bank_of_america_to_stop_financing_operators_of/)) | 👁 (& [VPN-hostile](https://www.reddit.com/r/BankOfAmerica/comments/c2susn/vpn_issues/)) | [fracking](https://www.theguardian.com/environment/2019/oct/13/top-investment-banks-lending-billions-extract-fossil-fuels), [fossil fuel](https://www.ran.org/bankingonclimatechange2019/#data-panel), [extreme fossil fuel](https://www.openinvest.co/blog/banks-funding-fossil-fuels/), [Atlantic Coast Pipeline](http://priceofoil.org/2018/04/18/bank-of-america-leads-finance-for-atlantic-coast-pipeline/), [Dakota Access Pipeline](https://www.huffpost.com/entry/bank-of-america-re100_n_57e157bce4b0071a6e09a217), [ultra-deepwater oil & gas projects](https://www.theguardian.com/environment/2019/oct/13/top-investment-banks-lending-billions-extract-fossil-fuels), [Trans Mountain Pipeline Expansion](https://www.ran.org/the-understory/5_things_you_need_to_know_about_the_trans_mountain_pipeline/) | [politically motivated denial](https://www.telegraph.co.uk/news/worldnews/wikileaks/8211768/WikiLeaks-Bank-of-America-halts-all-transactions-to-whistleblower-site.html) of fund transfers; often named "most hated bank" in consumer feedback studies; [xenophobic policy](https://www.thenation.com/article/why-is-bank-of-america-asking-clients-about-their-citizenship/) and [hostile](https://thehill.com/opinion/immigration/401032-banks-are-standing-on-the-wrong-side-of-history-with-trump) toward immigrants; [shamed](https://github.com/dumb-password-rules/dumb-password-rules#bank-of-america) for dumb password rules |
| Capital One | 🐘 || 🚨 ||| 👁 || sponsors Fox News; spent $20 million on Facebook ads (thus feeding a privacy abuser); uses privacy-abusing Amazon AWS which lead to [exfiltration of 100M customer records](https://edition.cnn.com/2019/07/29/business/capital-one-data-breach/index.html); [shamed](https://github.com/dumb-password-rules/dumb-password-rules#capital-one) for dumb password rules |
| Charles Schwab | 🐘 || 🚨 | 🔎 || 👁 |||
| Citibank | 🐘 || 🚨 | 🔎 ||| [fossil fuel](https://www.ran.org/bankingonclimatechange2019/#data-panel), [extreme fossil fuel](https://www.openinvest.co/blog/banks-funding-fossil-fuels/), [ultra-deepwater oil & gas projects](https://www.theguardian.com/environment/2019/oct/13/top-investment-banks-lending-billions-extract-fossil-fuels), [Trans Mountain Pipeline Expansion](https://www.ran.org/the-understory/5_things_you_need_to_know_about_the_trans_mountain_pipeline/) | [member of Better Than Cash Alliance](https://www.reddit.com/r/personalfinance_uc/comments/cyeg13/war_on_cash_visa_offered_10k_to_merchants_who/) thus fights to remove the cash payment option; Citi [blocked insulin](https://orinocotribune.com/citibank-blocks-funds-for-insulin-more-than-450000-venezuelans-affected) to 450,000 Venezuelans; Citi [blocks account holder access to money](https://www.reddit.com/r/personalfinance/comments/cwknyl/issue_with_citibank_bank_account_10k_put_on_hold/) if Citibank doesn't like your address; [shamed](https://github.com/dumb-password-rules/dumb-password-rules#citi) for dumb password rules|
| Fifth Third | [🐘](https://www.53.com/content/dam/fifth-third/docs/reports/political-contributions-report-2H-2018.pdf) || 🚨 | 🔎 |🚓||| employs 17,744 workers in pro-forced-birth state (OH)|
| JP Morgan - Chase | 🐘 || 🚨 | 🔎 | 🚓 ([will stop](https://populardemocracy.org/sites/default/files/%28Updated%29%202019%20Data%20Brief%20The%20Wall%20Street%20Banks%20Still%20Financing%20Private%20Prisons%20FINAL%20EMBARGOED%20UNTIL%204-8-19%201030am.pdf#page=2)) | 👁+ | [Arctic oil and gas exploration](https://www.theguardian.com/environment/2019/oct/13/top-investment-banks-lending-billions-extract-fossil-fuels), [fracking](https://www.theguardian.com/environment/2019/oct/13/top-investment-banks-lending-billions-extract-fossil-fuels), [fossil fuel](https://www.ran.org/bankingonclimatechange2019/#data-panel), [extreme fossil fuel](https://www.openinvest.co/blog/banks-funding-fossil-fuels/), [Atlantic Coast Pipeline](http://priceofoil.org/2018/04/18/bank-of-america-leads-finance-for-atlantic-coast-pipeline/), [Dakota Access Pipeline](https://www.huffpost.com/entry/bank-of-america-re100_n_57e157bce4b0071a6e09a217), [ultra-deepwater oil & gas projects](https://www.theguardian.com/environment/2019/oct/13/top-investment-banks-lending-billions-extract-fossil-fuels), [Trans Mountain Pipeline Expansion](https://www.ran.org/the-understory/5_things_you_need_to_know_about_the_trans_mountain_pipeline/) | [supports Trump](http://www.backersofhate.org/en/jpmorgan.html); [financed nazis](https://web.archive.org/web/20200319123802/https://www.globalresearch.ca/history-of-world-war-ii-nazi-germany-was-financed-by-the-federal-reserve-and-the-bank-of-england/5530318); paid $3k per engineer per day to Palantir (thus contributing to family separation at the US-Mexico border) |
| PNC | 🐘 | 👌 | 🚨 | 🔎 |🚓|| [Atlantic Coast Pipeline](http://priceofoil.org/2018/04/18/bank-of-america-leads-finance-for-atlantic-coast-pipeline/) ||
| Suntrust Bank ||| 🚨 | 🔎 |🚓|| [Atlantic Coast Pipeline](http://priceofoil.org/2018/04/18/bank-of-america-leads-finance-for-atlantic-coast-pipeline/), [Trans Mountain Pipeline Expansion](https://www.ran.org/the-understory/5_things_you_need_to_know_about_the_trans_mountain_pipeline/) | employs 24,375 workers in pro-forced-birth state (GA) |
| TD Bank ||| 🚨 |||| [fossil fuel](https://www.ran.org/bankingonclimatechange2019/#data-panel), [Atlantic Coast Pipeline](http://priceofoil.org/2018/04/18/bank-of-america-leads-finance-for-atlantic-coast-pipeline/) | Canadian ownership. Unlike TD Ameritrade, TD Bank was *not* acquired by Charles Schwab. |
| US Bancorp - US Bank | 🐘 || 🚨 | 🔎 |🚓||| employs 4000 workers in pro-forced-birth state (MS) |
| Wells Fargo | 🐘 | ~~👌~~ (dropped) | 🚨 | 🔎 |🚓 ([will stop](https://populardemocracy.org/sites/default/files/%28Updated%29%202019%20Data%20Brief%20The%20Wall%20Street%20Banks%20Still%20Financing%20Private%20Prisons%20FINAL%20EMBARGOED%20UNTIL%204-8-19%201030am.pdf#page=2))| 👁 | [fracking](https://www.theguardian.com/environment/2019/oct/13/top-investment-banks-lending-billions-extract-fossil-fuels), [fossil fuel](https://www.ran.org/bankingonclimatechange2019/#data-panel) ([source 2](https://www.openinvest.co/blog/banks-funding-fossil-fuels/)), [Atlantic Coast Pipeline](http://priceofoil.org/2018/04/18/bank-of-america-leads-finance-for-atlantic-coast-pipeline/), [Dakota Access Pipeline](https://stories.wf.com/wells-fargos-involvement-funding-dakota-access-pipeline/), [Trans Mountain Pipeline Expansion](https://www.ran.org/the-understory/5_things_you_need_to_know_about_the_trans_mountain_pipeline/) | [supports Trump](http://www.backersofhate.org/en/wellsfargo.html); sponsors Fox News; caught [committing fraud](https://en.wikipedia.org/wiki/Wells_Fargo_account_fraud_scandal); [shamed](https://github.com/dumb-password-rules/dumb-password-rules#wells-fargo) for dumb password rules |
(🐘) Commercial banks who meddle in politics tend to give disproportionately more to republican candidates (53/43%) and credit unions tend to give disproportionately more to democrats (58/41%), although it's uncommon for credit unions to meddle in politics at all. The elephant (🐘) above indicates that it's confirmed specifically for that bank that it favors republicans. Absence of 🐘 just means I didn't check that bank.
(🚨) *the problem with CISPA*-- CISPA was a bill to create a system of unwarranted mass surveillance through information sharing between the government and private sector. Congress blocked the bill, but it was later reincarnated as CISA and it passed. The police light (🚨) indicates that the bank lobbied for a police surveillance state in favor of CISPA.
(🔎) *the problem with drug testing*-- Drug testing employees in all cases above entail control over employees lifestyle outside the workplace. And in most cases involving medicinal mj states, the drug test also harms the healthcare of employees by intervening in doctors' prescriptions. The magnifying glass (🔎) indicates that the bank mistreats employees by drug testing them.
(🚓) *the problem with prison financing*-- Under the Trump administration, the number of immigrants detained by the US government has skyrocketed. Nearly 75% of those detained are held in private prisons, whose stock prices have soared against the backdrop of Trump’s zero-tolerance and family separation policies. A *Popular Democracy* [study](https://populardemocracy.org/sites/default/files/%28Updated%29%202019%20Data%20Brief%20The%20Wall%20Street%20Banks%20Still%20Financing%20Private%20Prisons%20FINAL%20EMBARGOED%20UNTIL%204-8-19%201030am.pdf#page=2) details which banks are financing private prisons and detention centers, as well as the banks that have made commitments to stop.
(👌) *the problem with ALEC*-- ALEC is a huge right-wing political lobby that puts corporate interests above the interest of human beings, as it fights gun control, fights healthcare, fights immigration, fights unions, fights public education, fights womens rights, and supports the NRA. The OK hand sign (👌) indicates that the bank supports right-wing extremism through ALEC membership.
(👁) *the problem with Tor hostility*-- Tor is a tool that helps the privacy of consumers. Banks that block Tor or take hostile actions against customers who use Tor are indicated with an eye (👁). A plus ("+") indicates that the bank allows Tor users to *attempt* to login (so they can discover which of their customers use Tor), followed by a permanent account denial.
More metrics: to see where these banks stand on gun issues, see https://isyourbankloaded.org.
## Who's ethical?
I've not vetted this list myself but it's a start:
| ***Financial institution*** | ***Values-based network*** | ***Locations*** |
|--|--|--|
| [Amalgamated Bank](https://www.amalgamatedbank.com/) | B Corp, GABV 👁 | New York, Washington, D.C.|
| [Aspiration](https://www.aspiration.com/) | B Corp 👁 | N/A (online only) |
| [Beneficial State Bank](https://www.beneficialstatebank.com/) | B Corp, GABV, CDFI 👁 | California, Oregon, Washington|
| [City First Bank of DC](https://www.cityfirstbank.com/) | B Corp, GABV, CDFI | Washington, D.C.|
| [First Green Bank](https://www.firstgreenbank.com/) | B Corp, GABV | Florida|
| [Mascoma Savings Bank](http://www.mascomabank.com/) | B Corp | New Hampshire, Vermont|
| [Missoula Federal Credit Union](https://missoulafcu.org/) | GABV, CDFI | Montana|
| [New Resource Bank](https://newresourcebank.com/) | B Corp, GABV | California|
| [Southern Bancorp](https://banksouthern.com/) | GABV, CDFI | Arkansas, Mississippi|
| [Spring Bank](https://springbankny.com/) | B Corp, CDFI | New York|
| [Sunrise Banks](https://sunrisebanks.com/) | B Corp, GABV, CDFI | Minnesota|
| [Verity Credit Union](https://www.veritycu.com/) | GABV | Washington|
| [VCC Bank](http://www.vacommunitycapital.org/ways-to-invest/products/) | B Corp, CDFI | Virginia|
| [VSECU (Vermont State Employees Credit Union)](https://www.vsecu.com/) | GABV | Vermont|
(👁) Caveat on Aspiration and Amalgamated Bank: they block Tor, which I consider to undermine privacy. Beneficial State Bank sometimes proxies through CloudFlare and thus puts a privacy abuser in the loop.