Charles Schwab Corporation (TD Ameritrade)
Corprate Bias Ratings
Risk Level:
Summary:
Charles Schwab scored a 100 on the 2023 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group. By complying with Human Rights Campaign's controversial demands, Charles Schwab increases the risk of dividing employees, alienating customers and harming shareholders. The company covers transgender-related medical costs for its employees and their children and provides specific sexual orientation and gender identity-based benefits. It also uses sex and gender ideology criteria in employee recruitment, vendor selection, marketing, and philanthropic support. Charles Schwab 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. Charles Schwab supports the Equality Act and its subsidiary TD Ameritrade is a corporate partner of the NGLCC. For these reasons, Charles Schwab receives a High Risk rating.
Has denied service to customers, suppliers, or vendors due to their political views or religious beliefs OR corporately boycotts, divests, or sanctions regions, people groups, or industries.
Charles Schwab received a score of 100 on the 2023 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group. The company recruit’s employees based on sexual identity issues. The company discriminates against vendors that do not promote divisive sex and gender policies, indicating it prioritizes sexual issues over merit (1)(2). However, Charles Schwab has not publicly terminated business relationships due to religious beliefs or political views.
Charitable giving (including employee matching programs) policies or practices discriminate against charitable organizations based on views or religious beliefs.
Employment policies fail to protect against discrimination based on political affiliation/views and/or religion.
Charles Schwab‘s HRC 2023 CEI rating indicates the company forces employees to attend multiple, controversial trainings on gender identity, sexual orientation, transgender issues, and divisive racial ideology. The company provides gender transition guidelines for its employees and a specific benefits guide with a comprehensive explanation of transgender services funded by the company (1)(2). Charles Schwab does not provide viewpoint protections for its employees (3).
Uses corporate reputation to support ideological causes and/or organizations hostile to freedom of expression.
Charles Schwab‘s HRC 2023 CEI rating indicates the company agrees to allow a controversial stakeholder group focused on sexual identity issues to dictate marketing or advertising strategy (1)(2). By doing so, the company risks dividing employees, alienating customers and harming shareholders. TD Ameritrade a subsidiary of Charles Schwab signed an open letter in support of the Equality Act (3). Charles Schwab supports ESG within its business practices (4).
Uses corporate funds to advance ideological causes, organizations, or policies hostile to freedom of expression.
Charles Schwab‘s HRC 2023 CEI rating indicates the company covers transgender related costs for its employees and their children, including paid short-term leave, puberty blockers, cross-sex hormones, chest surgeries, genital surgeries, medical visits and lab monitoring, travel and lodging. Additionally, the company has pledged philanthropic support of at least one organization or event that promotes sex and gender ideology (1)(2). By allowing a political stakeholder group to dictate operations, the company increases health care costs and risks dividing employees, alienating customers and harming shareholders. Charles Schwab indirectly gives to Planned Parenthood via employee grants allotted through the Schwab Charitable program (3)(4). TD Ameritrade, a subsidiary of Charles Schwab, is a corporate partner of the NGLCC (5).
Uses corporate political contributions for ideological, non-business purposes.
Charles Schwab‘s HRC 2023 CEI rating indicates the company publicly advocated for controversial sex and gender ideology through local, state or federal legislation or initiatives (1)(2). By allowing a political stakeholder group to dictate operations, the company risks dividing employees, alienating customers and harming shareholders. Charles Schwab has not used its PAC donations or lobbied for ideological purposes (3)(4)(5).
All links were last accessed and all information was updated on:
March 27, 2024
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Voting History
Date | ESG Category | Proponent | Summary of Resolution | Mgmt Rec | Total Vote % in Favor |
---|---|---|---|---|---|
5/18/23 | Social | James McRitchie | Report on Gender/Racial Pay Disparity | Against | 24.70% |
5/18/23 | Social | National Center for Public Policy Research | Report on Discrimination Risks | Against | 0.90% |