First Republic Bank

Risk Level:

High Risk

Summary:

Although First Republic Bank has not used its corporate reputation to support ideological causes, the bank terminated a bank account affiliated with former President Donald Trump. First Republic also uses ESG guidelines to "screen" potential clients, and as a result, the bank will not do business with firearm manufacturers and other industries. First Republic Bank does not have viewpoint protections for its employees. For these reasons, First Republic 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

First Republic has a separate Supplier Diversity Program, keeping any diversity requirements from interfering with its existing suppliers (1). However, First Republic will not invest in fossil fuel companies, and the bank uses an ESG-based screening process to avoid investment in companies that deal in alcohol, tobacco, firearms, and GMOs (2)(3). First Republic Bank also closed then-President Donald Trump’s checking account, which held $50,000. (4).

Criteria

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

Risk Level

Rationale

First Republic does not discriminate against religious organizations in its charitable giving (1)(2).

Criteria

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

Risk Level

Rationale

First Republic does not protect employees from political viewpoint discrimination (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

First Republic and its leaders have refrained from making any direct political statements or endorsements (1). An employee group did promote a “21-day Racial Equity Challenge,” which featured critical race theory training on unconscious biases (2).

Criteria

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

Risk Level

Rationale

First Republic has not publicly funded ideological groups or causes.

Criteria

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

Risk Level

Rationale

First Republic Bank does not have a PAC, although the bank’s lobbying activities are bipartisan and focused on business interests (1)(2).

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