Eastern Bank

Massachusetts
Banks

Corprate Bias Ratings

Risk Level:

Rating - Danger
High Risk

Eastern Bank maintains a policy of divestment from areas in which leadership disagrees. The company vets vendors according to LGBTQ policies and does not provide its employees with protections against viewpoint discrimination. The company covers the cost of "medically necessary transition-related care" for its employees and their children. Eastern Bank regularly advocates for LGBTQ and pro-abortion causes. The bank donates to the American Civil Liberties Union (ACLU) and Planned Parenthood. However, it does not discriminate against religious organizations in its charitable giving. For these reasons, Eastern Bank receives a High Risk rating.

Criteria
Risk Level
Rationale
Corporate Weaponization
Criteria

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.

Risk Level
Rationale

Eastern Bank received a score of 100 on the Corporate Equality Index from the Human Rights Campaign (HRC). Among other requirements, this means the company has a written policy pledging to vet vendors for LGBTQ policies (1)(2). According to Eastern Bank’s ESG policy, the bank believes in “divestment” and will refuse to make investments that the bank disagrees with on an ideological basis (e.g., tobacco securities) (3). However, Eastern Bank has not publicly fired pre-existing customers, suppliers, or vendors based on political views or religious beliefs.

Criteria

Charitable giving (including employee matching programs) policies or practices discriminate against charitable organizations based on views or religious beliefs.

Risk Level
Rationale

The Eastern Bank Foundation gives extensively through grants to organizations in Boston and its surrounding communities (1). The Foundation does not discriminate against religious organizations in its charitable giving (2).

Criteria

Employment policies fail to protect against discrimination based on political affiliation/views and/or religion.

Risk Level
Rationale

Eastern Bank does not provide viewpoint protections for its employees (1).

Corporate Governance and Public Policy
Criteria

Uses corporate reputation to support ideological causes and/or organizations hostile to freedom of expression.

Risk Level
Rationale

The company has published pro-abortion and pro-LGBTQ “sponsored content” (1). Eastern Bank was the first company to sign onto the Gay and Lesbian Alliance Against Defamation’s amicus brief opposing the Defense of Marriage Act (2). Eastern Bank is a member of the HRC’s Business Coalition for the Equality Act. The company has signed onto coalitions opposing state-level LGBTQ legislation, both in a general sense and in response to the Florida Parental Rights in Education Act, which prohibits teaching gender identity and sexual orientation to children in K-3rd grade (3)(4). CEO Bob Rivers has publicly endorsed the Black Lives Matter movement and directed user support to the organization’s Boston chapter (5). After Roe v. Wade was overturned, the bank spoke out against the decision and urged other companies to “(speak) out and (adopt) a policy that provides financial support for employees… who must travel to access abortion care” (6). Eastern Bank is a member of the America Competes National Business Coalition for Nondiscrimination (7).

Criteria

Uses corporate funds to advance ideological causes, organizations, or policies hostile to freedom of expression.

Risk Level
Rationale

The Eastern Bank Foundation has donated to the Black Lives Matter organization, the ACLU Foundation of Massachusetts, the Urban League of Eastern Massachusetts, and the Anti-Defamation League, all as recently as 2020 (1). Eastern Bank has been giving to Planned Parenthood through special programs since 2018 (2). Eastern Bank’s Roe v. Wade statement implied that the bank had adopted a policy that would expand medical benefits to cover abortion-related travel for employees; however, the bank’s branches are located entirely in Northeastern states with progressive abortion laws (3). Eastern Bank has a perfect score on the HRC’s 2022 Corporate Equality Index. This score indicates the company covers the cost of “medically necessary transition-related care” for its employees and their children (4)(5).

Criteria

Uses corporate political contributions for ideological, non-business purposes.

Risk Level
N/A
Rationale

Eastern Bank does not operate a PAC at this time (1).

All links were last accessed and all information was updated on:
November 28, 2023

Company reports are intended for educational use only. Full Disclaimer

Generate Reports
Clear
Toast

This website stores cookies on your computer. These cookies are used to collect information about how you interact with our website and allow us to remember you. We use this information in order to improve and customize your browsing experience and for analytics and metrics about our visitors both on this website and other media. To find out more about the cookies we use, see our Privacy Policy.

Accept