Amalgamated Bank

New York
Banks

Corporate Bias Rating

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Risk Level:

Rating - Danger
High Risk

Summary:

Amalgamated Bank scored a 100 on the 2023 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group. By complying with the HRC’s controversial demands, Amalgamated Bank increases the risk of dividing employees, alienating customers and harming shareholders. It also uses sex and gender ideology criteria in employee recruitment, vendor selection, marketing, and philanthropic support. Amalgamated Bank forces employees to undergo multiple ideological trainings and uses its reputation, corporate funds, and political influence to support controversial sex and gender ideologies, organizations, and legislation. The company provides a benefits package for employees which covers travel/lodging costs for an abortion and transgender medical procedures for covered employees and dependents, including children. Amalgamated Bank started the Hate is not Charitable campaign, which actively targets Donor Advised Funds and encourages such organizations to prohibit charitable donations to "hate groups," which Amalgamated Bank defines according to the Southern Poverty Law Center's (SPLC) list. The bank opposed various state and local legislation intended to protect parental rights, girls’ sports, bathroom facilities, and gendered spaces. Amalgamated Bank is a member of the "Don't Ban Equality" business coalition. The bank is a member of the Global Alliance for Banking Values and supports the Equality Act. For these reasons, Amalgamated Bank receives a High Risk rating.

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