Fifth Third Bank (5/3 Bank)
Corporate Bias Rating
Expand Summary
Risk Level:
Summary:
Fifth Third Bank scored a 100 out of 100 on the 2023-2024 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group. By complying with Human Rights Campaign’s controversial demands, Fifth Third 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. Fifth Third 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. Fifth Third Bank has closed accounts and refused financing to groups based on ideological characteristics. Fifth Third Bank 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. The bank has put 100% of its employees through "unconscious bias" training and has developed a toolkit called “From Awareness to Advocacy”. Fifth Third is a Ceres Network Member. The bank is a member of the Partnership for Carbon Accounting Financials, committed to net zero carbon emissions by 2050. The bank signed Orlando Economic Partnership's DEI pledge, committing themselves to fight systemic racism, prioritize the success of diverse people in its workplace, and ensure DEI "is a strategic imperative with demonstrated commitment and actions". Fifth Third's former CEO, Greg Carmichael, signed the CEO Action for Diversity & Inclusion pledge, which includes a commitment to promote DEI through bias education training in the workplace. The bank has pledged over $2 billion to the Black Lives Matter movement and related causes, including various Urban League chapters. For these reasons, Fifth Third Bank receives a High Risk rating.
View Full Corporate Bias Ratings ReportIn the News
Expand Summary
Citigroup , TD Bank , BMO Harris , Fifth Third Bank (5/3 Bank) , Northern Trust , HSBC Holdings