KeyBanc

An investment bank that provides various financial services including equity research, investment banking, and asset management.

CCI Score

-44.16

0.02% April 18

Latest Event

Racial Equity Audit Reveals Redlining Evidence

An independent racial equity audit has contradicted KeyBanc's initial denials, revealing evidence of redlining and lending failures in Black communities which raises serious concerns about the bank's discriminatory practices and lack of accountability.

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TOADIE

KeyBanc is currently rated as a Toadie.

-30 to -44 CCI Score

Companies scoring in this range actively seek to please authoritarian regimes. They offer proactive support and assistance in exchange for preferential treatment, compromising ethical standards for business gains and political favor.

Latest Events

MAY

04

2023

Racial Equity Audit Reveals Redlining Evidence
-61.65

An independent racial equity audit has contradicted KeyBanc's initial denials, revealing evidence of redlining and lending failures in Black communities which raises serious concerns about the bank's discriminatory practices and lack of accountability.
-75

Business Practices and Ethical Responsibility

March 29

The audit contradicts KeyBanc's prior denials by providing damning evidence of redlining and discriminatory lending practices. This failure in ethical business practice and accountability contributes to systemic inequality, highlighting corporate complicity in practices that harm marginalized communities.

KeyBank’s New Racial Equity Audit Contradicts Its Initial Denials Of Redlining And Other Lending Failures In Black Communities
APR

27

2023

Allegations of Redlining and Broken Merger Promises Prompt Calls for CRA Downgrade
-49.22

Advocacy groups have called for regulatory action to downgrade KeyBanc following allegations that the bank did not honor merger promises and engaged in practices resembling redlining, suggesting discriminatory business practices that harm marginalized communities.
-60

Business Practices and Ethical Responsibility

March 29

The allegations that KeyBanc failed to deliver on merger promises and engaged in redlining point to unethical business practices that undermine fair treatment and contribute to systemic discrimination. Such behavior is detrimental to marginalized communities, justifying a negative score within the Business Practices and Ethical Responsibility category.

Groups Urge CRA Downgrade For Keybank Over Broken Merger Promises, Apparent Redlining
APR

27

2023

KeyBank Broken Community Investment Promise and Redlining Allegations
-45.94

On April 27, 2023, over 80 organizations challenged federal regulators by alleging that KeyBank breached a five‐year, $16.5 billion commitment to invest in underserved communities and engaged in discriminatory lending practices, including redlining Black borrowers. The complaint detailed how post-merger profit strategies favored wealthier, predominantly White borrowers at the expense of low-to-moderate income communities.
-40

Public and Political Behavior

March 29

KeyBank's misrepresentation of its community reinvestment commitments—evidenced by an 'Outstanding' CRA rating despite clear failures—undermines public accountability and deceives regulators and communities about its role in supporting marginalized groups.

Over 80 groups tell federal regulators Key Bank broke $16.5Billion Promise
-80

Business Practices and Ethical Responsibility

March 29

The bank failed to execute a promised $16.5B community investment and its lending practices disproportionately favored wealthy and predominantly White borrowers, thereby neglecting and harming marginalized communities. This breach of ethical business practices is a severe violation of its social responsibilities.

Over 80 groups tell federal regulators Key Bank broke $16.5Billion Promise
-50

Economic and Structural Influence

March 29

KeyBank’s restructuring following its merger led to profit-driven strategies that systematically reduced lending in low-to-moderate income and Black communities, reinforcing economic disparities and undermining structural equity.

Over 80 groups tell federal regulators Key Bank broke $16.5Billion Promise
MAR

07

2023

KeyBanc Settles SEC Charges for Municipal Bond Disclosure Violations
-40.45

KeyBanc Capital Markets Inc. settled SEC charges for failing to obtain necessary municipal bond offering disclosures across 47 offerings between September 2017 and December 2021. The settlement included penalties totaling over $397,000 and revealed deficiencies in the firm's compliance policies.
-50

Business Practices and Ethical Responsibility

March 29

The SEC settlement against KeyBanc Capital Markets Inc. highlights a significant lapse in ethical business practices. The firm failed to secure required disclosures for municipal bond offerings, demonstrating poor internal controls and disregard for regulatory compliance. This behavior undermines investor protection and ethical financial conduct.

SEC Charges KeyBanc Capital Markets Inc. for Violating Municipal Bond Disclosure Law
DEC

31

2019

KeyBank 2019 Lobbying Activity
-23.54

KeyBank spent $70,000 on lobbying activities in 2019 as reported by OpenSecrets, reflecting its engagement in political influence efforts that may impact democratic accountability.
-40

Political Contributions and Lobbying Efforts

March 29

KeyBank's expenditure of $70,000 on lobbying in 2019 demonstrates the firm's active involvement in political influence, which from an anti-fascist perspective is concerning. Such engagements can contribute to corporate lobbying that undermines democratic oversight and favors authoritarian policy shifts, potentially disadvantaging workers and marginalized communities.

KeyBank Lobbying Profile • OpenSecrets