Visa

San Francisco, California
Diversified Financials

Corporate Bias Rating

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Risk Level:

Rating - Danger
High Risk

Summary:

Visa is High Risk. The company yields to political activism in shaping corporate governance, potentially alienating consumers, dividing employees, and harming shareholders. The company implements race and identity-based policies that replace merit, excellence, and integrity with preferential treatment and outcomes. Visa embraces corporate initiatives that redirect its central focus from business goals to partisan policies and divisive issues. This approach fails to safeguard free exercise, free speech, and free enterprise.

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Criteria
Risk Level
Rationale
Corporate Weaponization
Criteria

Has canceled 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

In 2018, Visa refused to allow donations to be processed if they were for the David Horowitz Freedom Center (1)(2). Visa received a score of 100 on the 2025 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group. The company recruits 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 (3)(4).

Criteria

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

Risk Level
Rationale

Visa‘s HRC 2025 CEI rating indicates the company will not donate to non-religious charities unless they embrace controversial sexual identity policies (1)(2). The company likely uses Benevity as its charitable giving platform. Benevity vets charities according to the Southern Poverty Law Center’s Hate List, which includes mainstream libertarian, conservative, family, and religious advocacy organizations (3)(4)(5).

Criteria

Employment policies fail to protect against viewpoint or other discrimination and/or are ideological in nature.

Risk Level
Rationale

Visa‘s HRC 2025 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). The company’s Executive Chairman Alfred F. Kelly signed Catalyst’s Champions for Change pledge, indicating its support of DEI in its leadership composition through the establishment of gender and racial targets (3)(4). The company is a signatory of the Gender & Diversity KPI Alliance, appearing to prioritize diversity over merit in its business structure through the establishment of gender and racial targets for its leadership composition and its support of DEI in its hiring and promotions (5)(6). The company requires its leaders to take unconscious bias training (7). The company offers unconscious bias training to all its employees (8). The company does not provide viewpoint protections for its employees (9).

Corporate Governance and Public Policy
Criteria

Uses corporate reputation to support causes, organizations, or policies hostile to freedom of expression.

Risk Level
Rationale

Visa‘s HRC 2025 CEI rating indicates the company agrees to allow a controversial stakeholder group focused on sexual identity issues to dictate marketing or advertising strategy. By doing so, the company risks dividing employees, alienating customers and harming shareholders (1)(2). The company signed an open letter endorsing the Equality Act, a contentious proposal to amend the 1964 Civil Rights Act by adding sexual orientation and so-called gender identity as protected categories. The legislation would, among other implications, grant biological men access to women-only spaces such as sports teams and public restrooms, and compel healthcare providers to deliver sex-denying healthcare and utilizes a new product code for legal firearms, allowing for the potential tracking of legal gun purchases (3)(4). The company’s CEO is a member of the Business Roundtable and signed the 2019 Statement on the Purpose of a Corporation, which promotes stakeholder capitalism over traditional obligations to shareholders (5)(6). Visa’s former CEO, Alfred F. Kelly, signed the CEO Action for Diversity & Inclusion pledge, which includes a commitment to promote DEI through bias education training in the workplace (7)(8).

Criteria

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

Risk Level
Rationale

Visa’s HRC 2025 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. By allowing a political stakeholder group to dictate operations, the company increases health care costs and risks dividing employees, alienating customers and harming shareholders (1)(2). The company pledged over $15 million to the Black Lives Matter movement and related causes, including the ACLU and the National Urban League (3)(4). The company is a Bronze sponsor of the HRC, a copper sponsor of Out & Equal, and a corporate partner of the NGLCC (5)(6)(7). It is a member of the MCCA, indicating its focus on recruiting, retaining, and promoting employees based on race (8)(9). Otherwise, there are no publicly known cases of the company using corporate funds to advance ideological causes, organizations, or policies (10).

Criteria

Uses corporate political actions and/or financial contributions for ideological, non-business purposes.

Risk Level
Rationale

Visa‘s HRC 2025 CEI rating indicates the company publicly advocated for controversial sex and gender ideology through local, state or federal legislation or initiatives. By allowing a political stakeholder group to dictate operations, the company risks dividing employees, alienating customers and harming shareholders (1)(2). The company donated to the Equality PAC and lobbied for the Equality Act (3)(4)(5).

Board Bias

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CEO of Visa

Alfred F. Kelly, Jr.

Alfred F. Kelly, Jr.

Summary:

Headquartered in San Francisco, California, Visa is a member of the Fortune 250 operating in the Diversified Financials industry. Alfred F. Kelly, Jr. serves as CEO/President and Chairman, leading the company’s C-suite executive team and the board of directors. Amongst these teams, the collective leadership is responsible for $211,900 to Republican causes and $307,141 to Democratic causes. Under their tenure, Visa currently holds a 'High Risk' risk rating.

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Political Contributions of Leadership:

$211,900

$307,141

Republican

Democrat

Shareholder Proposals

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Date
ESG Category
Proponent
Summary of ResolutionMgmt RecTotal Vote % in Favor
4/25/24Myra K. YoungRacial and Gender Pay GapAgainstN/A
4/27/23SocialMyra K. YoungThe stockholder proposal regarding pay equity disclosure.Against34.81%
1/23/24GovernanceJohn CheveddenShareholder Ratification of Termination PayAgainst5.1%
1/24/23GovernanceNational Legal and Policy CenterIndependent Board ChairAgainst17.40%

In the News

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National Center for Public Policy Research
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