CIT Bank

CIT Bank is a digital banking division that offers a range of savings account products with competitive APY rates and bonuses for new customers. It focuses on delivering innovative financial solutions through an online platform.

CCI Score

19.77

-0.01% April 18

Latest Event

CIT Group Political Lobbying and Contributions Data

OpenSecrets data reveals CIT Group’s lobbying spending and political contributions. The organization reported $520,000 in lobbying spending in 2019 and $160,000 in 2020, alongside modest campaign contributions and a notable revolving door phenomenon with former government officials serving as lobbyists. Such practices indicate corporate behaviors that may unduly influence democratic processes and support authoritarian tendencies.

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SABOTEUR

CIT Bank is currently rated as a Saboteur.

+10 to +24 CCI Score

Companies in this bracket take more subtle actions to undermine authoritarian practices. They might implement internal policies or support reforms that quietly weaken oppressive systems, contributing to change in less overt ways.

Latest Events

FEB

06

2025

CIT Group Political Lobbying and Contributions Data
-44.13

OpenSecrets data reveals CIT Group’s lobbying spending and political contributions. The organization reported $520,000 in lobbying spending in 2019 and $160,000 in 2020, alongside modest campaign contributions and a notable revolving door phenomenon with former government officials serving as lobbyists. Such practices indicate corporate behaviors that may unduly influence democratic processes and support authoritarian tendencies.
-45

Political Contributions and Lobbying Efforts

March 21

The data from OpenSecrets indicates that CIT Group is involved in significant political contributions and lobbying activities, including extremely high lobbying expenditures in 2019 and 2020. The presence of a revolving door, with former government employees becoming lobbyists, raises concerns about potential undue influence on public policy and democratic processes, contributing to authoritarian practices.

CIT Group Profile: Summary
JAN

01

2025

Statement on Human Rights: Upholding Labor and Supplier Ethics
80.10

CIT Bank (as part of Citigroup) has released a comprehensive statement on human rights outlining robust policies on labor practices and supply chain ethics. Their guidelines emphasize the prevention of forced labor, protection of employee rights, and stringent supplier standards aligned with UN and ILO frameworks.
+85

Labor Relations and Human Rights Practices

March 21

The statement provides a detailed commitment to labor relations and human rights practices. It emphasizes protecting employee rights, preventing forced labor, and ensuring fair treatment in accordance with international standards, which reflects a strong and positive stance in this area.

Statement on Human Rights.
+80

Supply Chain Ethics

March 21

The document outlines strict supplier guidelines to mitigate risks related to forced labor and other unethical practices, demonstrating proactive measures in supply chain ethics. This helps ensure that suppliers adhere to international human rights standards.

Statement on Human Rights.
JUN

30

2023

Citi UK Modern Slavery Act Statement 2022: Supply Chain and Labor Practices
66.79

Citi UK published its Modern Slavery Act Statement for FY2022, detailing robust measures to mitigate modern slavery risks in its operations and supply chain. The statement outlines comprehensive policies on worker rights, pre‐employment screening, supplier due diligence, and engagement initiatives that reinforce ethical labor practices and supply chain transparency.
+80

Labor Relations and Human Rights Practices

March 21

The statement demonstrates a strong commitment to labor rights by detailing policies that protect workers, including pre‐employment screening and worker grievance mechanisms. Citi UK's proactive stance in ensuring adherence to modern slavery regulations through clear guidelines and training conveys a robust ethical approach towards labor relations.

Citi UK Modern Slavery Act Statement (FY2022)
+80

Supply Chain Ethics

March 21

Citi UK's detailed disclosure on its supply chain ethics reflects effective oversight and due diligence of supplier practices. The document emphasizes the use of supplier questionnaires, adherence to supplier principles, and proactive engagement in high-risk sectors, all of which indicate a strong commitment to ethical sourcing and mitigating modern slavery risks.

Citi UK Modern Slavery Act Statement (FY2022)
JUN

07

2021

Citi Resumes Political Donations After Jan. 6 Pause
-13.59

CIT Bank, operating under the Citi brand, has decided to resume political donations after having paused them in the wake of the January 6 Capitol riots. While the bank states that donations will be evaluated based on a set of principles, it notably does not exclude contributions to candidates who challenged the 2020 election results. This decision raises concerns from an anti‐fascist perspective, as continued funding for such candidates can be seen as indirectly supporting undemocratic actions.
-20

Political Contributions and Lobbying Efforts

March 21

CIT Bank’s decision to resume political donations, while claiming to adhere to certain evaluative criteria, maintains the possibility of funding candidates who have actively challenged democratic processes, such as those who disputed the 2020 election results. From an anti-fascist and democratic accountability perspective, this practice is concerning since it may indirectly bolster figures with authoritarian leanings.

JPMorgan Chase, Citi to Resume Political Donations
JAN

10

2018

CIT Bank Political Contributions and Lobbying Policy
9.66

CIT Bank's documented policy strictly prohibits direct or indirect political contributions and outlines regulated lobbying practices. Although the policy adheres to legal requirements and emphasizes governance, the continuation of corporate lobbying raises concerns about potential undue influence over public policy.
+20

Political Contributions and Lobbying Efforts

March 21

The Political Contributions and Lobbying Policy clearly prohibits the use of company funds for political campaign contributions and is designed to ensure compliance with federal and state regulations. While this internal regulation represents a commitment to avoiding direct financial support for potentially authoritarian political activities, the active engagement in lobbying—even if regulated—can be seen as a means of advancing corporate interests, which may sometimes align with agendas that undermine broader democratic accountability.

Political Contributions and Lobbying Policy