Company Directory - Discovery Bank
Company Details - Discovery Bank
Discovery Bank
Discovery Bank is a digital banking service launched by the Discovery Group. It is known for leveraging technology to deliver innovative, customer-centric banking solutions that integrate financial products with a focus on holistic wellness.
CCI Score
CCI Score: Discovery Bank
7.13
Latest Event
Political Contributions and Lobbying Profile
An OpenSecrets profile reveals that the organization associated with Discovery Bank, under the banner of Discover Financial Services, engaged in significant political contributions and lobbying in the 2024 cycle. The reported figures – over $1.7M in contributions and $2.1M in lobbying spending – raise concerns about the company’s influence on policy and its potential complicity in bolstering authoritarian practices.
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OBJECTOR
Discovery Bank is currently rated as an Objector.
Latest Events
- FEB062025
An OpenSecrets profile reveals that the organization associated with Discovery Bank, under the banner of Discover Financial Services, engaged in significant political contributions and lobbying in the 2024 cycle. The reported figures – over $1.7M in contributions and $2.1M in lobbying spending – raise concerns about the company’s influence on policy and its potential complicity in bolstering authoritarian practices.
-70
Political Contributions and Lobbying Efforts
March 23
The data from OpenSecrets shows that the firm is heavily involved in political contributions and lobbying, with expenditures that may be aimed at influencing policy favorably for corporate interests. From an anti-fascist perspective, such behavior is concerning as it can undermine democratic processes and potentially support authoritarian practices. The significant financial outlay in the 2024 cycle suggests an aggressive strategy to shape regulatory and legislative outcomes, which is reflected in the negative rating.
- JAN012025
The article details Discover's approach to corporate political disclosures, emphasizing a transparent and compliant framework for political contributions and lobbying. Discover employs an employee-funded PAC and adheres to strict reporting requirements, demonstrating accountability. However, while these practices promote transparency, corporate lobbying in support of business interests can perpetuate undue influence, a concern viewed critically from an anti-fascist perspective.
+15
Political Contributions and Lobbying Efforts
March 23
The disclosed political activities indicate that Discover maintains robust transparency in its political contributions and lobbying efforts by using an employee-funded PAC and comprehensive compliance with disclosure standards. While this transparency is a positive step, the very act of engaging in lobbying to promote corporate interests can contribute to a power imbalance in policymaking, a concern for those opposing authoritarian practices.
- JAN012025
Discovery Bank released a detailed human rights statement outlining its commitment to protecting worker rights, enforcing ethical standards throughout its supply chain, and upholding international labor laws, demonstrating a positive corporate stance against authoritarian practices.
+90
Labor Relations and Human Rights Practices
January 1
Discovery Bank's human rights statement shows a strong commitment to labor rights by ensuring fair treatment of employees, adherence to international labor standards, and clear opposition to forced or child labor. The company emphasizes internal policies and active engagement with stakeholders to uphold human rights, all of which contribute positively to countering authoritarian exploitation of workers.
+85
Supply Chain Ethics
January 1
The statement underscores Discovery Bank's commitment to ethical sourcing by requiring that its suppliers adhere to high standards in human rights and labor practices. This proactive approach in procurement helps prevent complicity in human rights abuses and reinforces the company’s stance against authoritarian practices within its supply chain.
- JAN012025
The article outlines the company’s detailed political disclosure practices including transparent lobbying, PAC contributions, and corporate political activity governed by strict ethical standards. These disclosures indicate a commitment to transparency and compliance, which, from an anti-fascist perspective, is a positive step in limiting undue authoritarian influence despite the inherent risks of corporate lobbying.
+40
Political Contributions and Lobbying Efforts
March 23
The disclosed political contributions and lobbying efforts are conducted with high transparency and strict adherence to ethical standards. The company explicitly states that it does not use corporate funds for partisan political contributions and maintains rigorous reporting protocols. While engagement in political lobbying inherently involves the exercise of corporate influence, the clear disclosure and governance structure mitigate concerns from an anti-fascist perspective, earning a moderately positive score.
- AUG012024
A report detailing how U.S. financial institutions have partnered with federal law enforcement to conduct extensive surveillance on customers, raising concerns regarding civil liberties and regulatory capture. Although Discovery Bank is not specifically named, as a digital bank it operates in an industry where such practices contribute to the erosion of privacy and democratic oversight.
-70
Public and Political Behavior
March 23
The report details how financial institutions are complicit in facilitating extensive surveillance operations by sharing customer data with law enforcement agencies without proper judicial oversight. This behavior undermines citizens' privacy and civil liberties, aligning with authoritarian practices by bolstering state capabilities to monitor and control dissent, thereby contributing to the rise of fascist tactics.
Big Money and Massive Surveillance: The Finance Industry’s Partnership With Federal Law Enforcement
-60
Economic and Structural Influence
March 23
The systemic integration of financial institutions with government surveillance networks reflects a structural influence that enables regulatory capture. By leveraging legal loopholes and voluntarily sharing sensitive financial data, banks indirectly empower authoritarian regimes to control and manipulate public information, thereby eroding checks and balances in democratic systems.
Big Money and Massive Surveillance: The Finance Industry’s Partnership With Federal Law Enforcement
- APR262024
Investigations have revealed that several banks have collaborated with federal agencies in monitoring customer transactions using politically charged keywords. This event raises concerns about potential government overreach and the use of financial data for ideological purposes, implicating digital banks like Discovery Bank in practices that may infringe on citizen privacy and democratic oversight.
-80
Public and Political Behavior
March 23
The investigation points to a concerning partnership between banks and federal agencies wherein financial transactions were monitored using politically charged parameters. This practice undermines democratic principles by targeting citizens based on their political or religious expressions, representing a significant erosion of public trust and democratic accountability. As a digital bank, Discovery Bank is implicated in broader industry practices that foster surveillance and political manipulation.
Investigations Target Banks Over Alleged Surveillance Collaboration
-70
Technology and Services Impact
March 23
The use of sophisticated transaction tracking technology to monitor and flag customer behavior under the guise of preventing extremism indicates a troubling reliance on repressive surveillance tools. This not only compromises individual privacy rights but also aligns with broader authoritarian practices that weaponize technology for political control.
Investigations Target Banks Over Alleged Surveillance Collaboration
- JAN012023
Discovery Bank, as part of the Discovery Group, published a comprehensive Human Rights Statement outlining its commitment to international human rights standards, fair labor practices, and ethical business conduct. The document details adherence to UN guidelines and assurances against forced or child labor, reflecting a strong commitment to upholding human rights across its operations and supply chains.
+90
Labor Relations and Human Rights Practices
March 23
The Human Rights Statement demonstrates Discovery Bank’s commitment to ethical labor practices and the protection of human rights. By committing to international standards such as the UN Guiding Principles, and by explicitly opposing forced labor and discrimination while promoting fair treatment of employees, the company positions itself positively against authoritarian practices. This strong ethical stance supports a high score under the 'Labor Relations and Human Rights Practices' category.
- JAN012020
Discovery Bank, under the Discovery Group, released a human rights statement outlining its commitment to uphold international human rights standards, including labor rights, non-discrimination, and ethical supply chain practices. The document emphasizes compliance with UN guidelines, ILO principles, and promotes transparency across its operations, reflecting a positive stance against authoritarian practices.
+80
Labor Relations and Human Rights Practices
March 23
Discovery Bank's human rights statement strongly affirms its commitment to labor rights and fair treatment of employees, aligning with international standards such as the UN Guiding Principles and ILO declarations. This demonstrates a robust ethical responsibility on labor relations, contributing positively against authoritarian labor practices.
+75
Supply Chain Ethics
March 23
The document also details Discovery’s expectations for its suppliers to adhere to high ethical standards, ensuring that the supply chain respects human rights and environmental responsibilities. This commitment to supply chain ethics supports a broader resistance to exploitative practices often associated with authoritarian regimes.
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