Company Directory - Fifth Third Bancorp
Company Details - Fifth Third Bancorp
Fifth Third Bancorp
WebsiteCincinnati, United States
1150 Locations
Fifth Third Bancorp is a bank holding company that provides a wide range of banking services, including commercial banking, consumer banking, wealth management, and investment services throughout the United States.
CCI Score
CCI Score: Fifth Third Bancorp
0.42
Latest Event
Fifth Third Recognized as One of the World's Most Ethical Companies
Fifth Third Bancorp has been named for the sixth time as one of the World’s Most Ethical Companies® by Ethisphere, underscoring its commitment to ethical business practices, compliance, and governance. This recognition reflects the bank's adherence to high ethical standards, promoting transparency and accountability.
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OBJECTOR
Fifth Third Bancorp is currently rated as an Objector.
Latest Events
- MAR112025
Fifth Third Bancorp has been named for the sixth time as one of the World’s Most Ethical Companies® by Ethisphere, underscoring its commitment to ethical business practices, compliance, and governance. This recognition reflects the bank's adherence to high ethical standards, promoting transparency and accountability.
+85
Business Practices and Ethical Responsibility
April 7
The repeated recognition by Ethisphere highlights Fifth Third Bancorp's robust ethical framework, commitment to compliance, and transparent governance practices. These practices support fair treatment of employees and stakeholders while countering authoritarian tendencies in corporate governance, which is strongly aligned with anti-fascist and socially responsible principles.
- JUL152024
Fifth Third Bancorp agreed to pay $15 million to settle a federal investigation into its sales practices that pressured employees to open unauthorized consumer accounts. The settlement, finalized on July 15, 2024, mandates the bank to also create a plan to reimburse affected customers for fees and costs incurred due to these practices.
-70
Business Practices and Ethical Responsibility
April 7
The settlement highlights Fifth Third Bancorp’s unethical business practices. The pressure on employees to misuse customer accounts in order to meet sales quotas represents a systemic failure to protect consumer rights and ensure ethical behavior, thereby negatively impacting marginalized groups who are often the most vulnerable to exploitative practices.
Why Ohio’s Fifth Third Bank is paying $15 million over improperly opened accounts
- JUL092024
Fifth Third Bancorp reached a comprehensive settlement agreement with the Consumer Financial Protection Bureau (CFPB) to resolve litigation related to its sales practices. While the litigation suggests prior issues in consumer dealings, the settlement represents a regulatory enforcement action aimed at correcting these practices.
+20
Business Practices and Ethical Responsibility
April 7
The settlement with the CFPB reflects an enforcement action that helps protect consumers and rectify problematic sales practices. Although the underlying litigation points to past missteps, the comprehensive agreement indicates a corrective step toward ethical business practices, aligning with consumer protection and accountability, which are positive from an anti-authoritarian perspective.
- JUL092024
On July 9, 2024, the CFPB took action against Fifth Third Bank for a series of illegal practices that included forcing unnecessary vehicle insurance onto borrowers and opening fake customer accounts, resulting in a $20 million penalty and redress for harmed consumers.
-80
Business Practices and Ethical Responsibility
April 7
The CFPB's enforcement action highlights a pattern of unethical business practices by Fifth Third Bancorp. Their actions—charging illegal, duplicative fees, forcing insurance on borrowers, and creating fake customer accounts—expose a disregard for consumer rights and fair business practices, warranting a strongly negative score in the 'Business Practices and Ethical Responsibility' category.
- DEC192023
Fifth Third Bancorp achieved a perfect score on the Human Rights Campaign Foundation’s 2023-2024 Corporate Equality Index for the eighth consecutive year, demonstrating its strong commitment to workplace diversity, inclusion, and progressive labor practices.
+90
Labor Relations and Human Rights Practices
April 7
Fifth Third Bancorp's consecutive perfect scores on the Corporate Equality Index highlights its proactive commitment to LGBTQ+ workplace rights and inclusive labor practices. This leadership in diversity and inclusion can be seen as a positive signal against authoritarian and discriminatory practices, reinforcing its ethical business practices.
Fifth Third Earns Highest Marks in Human Rights Campaign’s 2023 Corporate Equality Index
- MAR262021
A federal judge granted class-action status to a lawsuit alleging that Fifth Third Bancorp misled consumers about interest rates on its Early Access Loan Program, accusing the bank of violating Truth in Lending rules and breaching loan agreements. The case, dating to a ruling on March 26, 2021, could cost the bank over $280 million in liabilities.
-60
Business Practices and Ethical Responsibility
April 7
Fifth Third Bancorp is accused of unethical lending practices by allegedly misrepresenting cash-advance loan interest rates and violating Truth in Lending rules. Such practices undermine consumer trust and contribute to broader financial exploitation, aligning with actions that can harm marginalized communities facing economic hardship.
Fifth Third lending suit secures class-action status - WCPO 9 News
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Corporate Financials
- Revenue
- 2022
- $8.67B
- Total Assets
- 2022
- $207.00B
- Operating Income
- 2022
- $3.40B
- Total Equity
- 2022
- $24.00B
Employees: 19,500
Industries
- 522110
- Commercial Banking
- 523910
- Miscellaneous Intermediation
- 523930
- Investment Advice
- 522120
- Savings Institutions