Company Directory - CFG Bank
Company Details - CFG Bank
CFG Bank
CFG Bank is a financial institution specializing in offering a range of banking products, including Certificates of Deposit (CDs) and other financial services designed to meet diverse customer needs. It focuses on personalized solutions and innovative approaches in the banking sector.
CCI Score
CCI Score: CFG Bank
0.60
Latest Event
CFG Bank Celebrates 2024 Community Initiatives and Partnerships
CFG Bank, the largest bank headquartered in Baltimore, outlined its 2024 community initiatives including partnerships with local organizations, community-driven money market accounts, and philanthropic contributions aimed at supporting local recovery and cultural projects. These efforts underscore the bank's commitment to community investment and social responsibility.
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OBJECTOR
CFG Bank is currently rated as an Objector.
Latest Events
- FEB122025
CFG Bank, the largest bank headquartered in Baltimore, outlined its 2024 community initiatives including partnerships with local organizations, community-driven money market accounts, and philanthropic contributions aimed at supporting local recovery and cultural projects. These efforts underscore the bank's commitment to community investment and social responsibility.
+80
Public and Political Behavior
March 24
CFG Bank’s community initiatives demonstrate a commitment to strengthening civic engagement and public welfare. Although not directly political, the bank’s extensive partnerships and support for cultural and community projects build social capital, which can counter authoritarian tendencies by fostering a more engaged and resilient community.
CFG Bank Celebrates 2024 New Community Initiatives and Partnerships & Partner Milestones
+90
Business Practices and Ethical Responsibility
March 24
The bank has actively engaged in business practices that prioritize ethical responsibility and community support. Initiatives such as matching customer donations, funding public projects like the Harbor Wetland exhibit, and partnering with local organizations illustrate strong corporate social responsibility that aligns against the exploitative practices seen in authoritarian-supportive businesses.
CFG Bank Celebrates 2024 New Community Initiatives and Partnerships & Partner Milestones
- OCT012024
A recent Lobbying Disclosure Act filing revealed that CFG Bank spent $220,000 on lobbying in Q4 2024, engaging with regulatory matters including proposals on capital rules, long-term debt requirements, and the application of AI in financial services. This activity highlights the bank’s involvement in shaping policies that could potentially undermine public accountability and democratic processes.
-30
Political Contributions and Lobbying Efforts
March 24
CFG Bank's disclosed $220,000 lobbying expenditure in Q4 2024, focusing on regulatory matters such as capital rules and AI in financial services, reflects a strategic use of corporate resources to influence public policy. Such political contributions and lobbying efforts can erode democratic oversight and potentially support authoritarian regulatory capture, warranting a negative rating.
Lobbying Update: $220,000 of CITIZENS FINANCIAL GROUP INC lobbying was just disclosed
- OCT012023
CFG Bank has been identified as a lobbying client in Texas according to Transparency USA. This association raises concerns about the company’s involvement in political lobbying, which may facilitate undue corporate influence over state-level policies and potentially undermine democratic accountability.
-50
Political Contributions and Lobbying Efforts
October 1
Transparency USA lists CFG Bank as a lobbying client in Texas, indicating its active involvement in political lobbying. From an anti-fascist perspective, such lobbying practices can be seen as a means to channel financial influence into policymaking processes that may favor authoritarian or corporate interests over public welfare. This complicity in the political process raises significant concerns about corporate transparency and commitment to democratic values.
- MAR222021
OpenSecrets' report on commercial bank contributions highlights the pervasive use of 'dark money' to influence elections, raising concerns that these financial contributions may be indirectly supporting authoritarian agendas. As a commercial bank, CFG Bank's involvement in such political funding, if any, reflects poorly on its public and political behavior.
-50
Political Contributions and Lobbying Efforts
March 24
The report from OpenSecrets indicates that commercial banks are among the top contributors in terms of 'dark money', which undermines transparency and accountability in political funding. Such practices contribute to the erosion of democratic processes and may indirectly bolster authoritarian policies. CFG Bank, operating within this sector, could be complicit if involved in similar funding practices.
- JAN012021
In 2021, CFG Bank provided seed money to help launch the Jack and Nancy Dwyer Workforce Development Center, Inc., a nonprofit aimed at boosting workforce skills and community engagement. This initiative supports ethical business practices and fosters inclusive community development, offering a positive counterbalance to authoritarian policies.
+80
Public and Political Behavior
March 24
CFG Bank's provision of seed money for a community workforce development center demonstrates active engagement in positive public and political behavior. By investing in community initiatives that empower local citizens and promote civic unity, the bank is taking a stand that counters the divisive strategies often linked with authoritarian regimes.
+75
Business Practices and Ethical Responsibility
March 24
By investing in a nonprofit aimed at workforce development, CFG Bank is upholding ethical business practices and social responsibility. This move not only supports community empowerment but also helps create a more resilient economic foundation, acting as a buffer against the centralized power structures often exploited by authoritarian figures.
- OCT232020
Data from Statista highlights that commercial banks, including CFG Bank, made notable contributions to U.S. political parties during the 2020 election cycle. From an anti-fascist perspective, such political funding is worrisome as it can bolster far‑right and authoritarian agendas. This event raises concerns about the role of corporate political contributions in undermining democratic processes.
-40
Public and Political Behavior
March 24
CFG Bank, as part of the commercial banking sector, has been implicated in contributing to U.S. political parties during the contentious 2020 election cycle. Such contributions are seen as enabling far‑right or authoritarian policies by providing the financial backing that can influence political outcomes. From an anti-fascist lens, this practice supports the broader concerns of corporate complicity in undermining democratic accountability and fueling authoritarian tendencies.
Contributions by Commercial Banks to U.S. Political Parties Election Cycle 2020
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