USAA - 1792 Exchange

Rating Overview

USAA is High Risk.

USAA 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. USAA 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.

Rating Criteria

Corporate Weaponization Risk Levels
Criteria	Risk Level
Cancellations	High Risk
Discriminatory Philanthropy	High Risk
Employment Protection	High Risk

Corporate Weaponization ⓘ

Corporate Governance and Public Policy Risk Levels
Criteria	Risk Level
Advocacy Bias	High Risk
Funding	High Risk
Political Actions	High Risk

Corporate Governance and Public Policy ⓘ

Rating Criteria Detail

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:

High

Rationale:

In November 2023, USAA notified former Trump attorney John Eastman that his two bank accounts with the company would be closed. USAA claimed in the letter that it was “exercising its right to no longer do banking business” with Eastman according to its “Depository Agreement”, which gives USAA the right to close an account “for any reason without advance notice”. Eastman asked about the closures, however, the bank stated that it was their policy not to disclose any further information (1)(2). USAA was a member of the Global Alliance for Responsible Media, which demonetized and suppressed content that it deemed to spread “hate speech” or “misinformation”, discuss “debated social issues in a negative or partisan context”, or “vilif[y]” individuals based on sexual orientation and gender identity. These arbitrary guidelines were used to censor mainstream perspectives online (3)(4)(5). The company 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 (6)(7).

Criteria:

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

Risk Level:

High

Rationale:

USAA‘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’s charitable giving guidelines require that organizations abide by its nondiscrimination policy, including on the basis of sexual orientation and gender identity, thereby excluding some religious charities (3)(4)(5). USAA 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 (6)(7)(8).

Criteria:

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

Risk Level:

High

Rationale:

USAA‘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 appears to prioritize diversity over merit in its supply chain (3). USAA does not provide viewpoint protections for its employees (4).

Corporate Governance and Public Policy

Criteria:

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

Risk Level:

High

Rationale:

USAA‘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’s CEO Wayne Peacock is a member of the Business Roundtable and Former CEO Stuart Parker signed its 2019 Statement on the Purpose of a Corporation, which promotes stakeholder capitalism over traditional obligations to shareholders (3)(4). USAA’s CEO, Wayne Peacock, signed the CEO Action for Diversity & Inclusion pledge, which includes a commitment to promote DEI through bias education training in the workplace, strategize on DEI programs/initiatives with other signatories, and engage boards of directors when developing and evaluating DEI strategies (5)(6). The company supports DEI within its business practices, employing a Chief Diversity Officer (7).

Criteria:

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

Risk Level:

High

Rationale:

USAA’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 was a member of the Global Alliance for Responsible Media (3)(4)(5). USAA is a Titanium partner of PFLAG, an LGBTQ+ activist group that promotes books for children with sexually explicit and gender fluid content and advocates against laws that inform parents of their child’s gender dysphoria or prevent unapproved transgender medical treatments for minors (6)(7)(8). The company is a member of the MCCA, indicating its focus on recruiting, retaining, and promoting employees based on race (9)(10). USAA is a brass sponsor of Out & Equal and a corporate partner of the National LGBT Chamber of Commerce (11)(12). The company is a partner of the HRC’s Foundation (13). USAA sponsored the 2025 Pride “Bigger Than” Texas Festival (14). Otherwise, there are no publicly known cases of USAA using corporate funds to advance ideological causes, organizations, or policies (15).

Criteria:

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

Risk Level:

High

Rationale:

USAA‘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 has not used its PAC donations or lobbying for ideological purposes (3)(4)(5).