Quontic Bank

Quontic Bank is a digital bank offering modern banking solutions with a focus on accessible savings products and certificates of deposit. With an emphasis on a digital-first approach, the bank aims to provide innovative, customer-centric financial services.

CCI Score

37.74

-0.03% April 18

Latest Event

Quontic Bank’s Community-Focused Digital Transformation

Quontic Bank is leveraging adaptive digital banking alongside its status as a CDFI to promote community development, customer-centric financial practices, and innovative technology integration. This approach supports financial inclusion and ethical business practices in a way that resists oppressive, authoritarian economic models.

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DISSENTER

Quontic Bank is currently rated as a Dissenter.

+25 to +44 CCI Score

These companies are vocal in their opposition to authoritarian regimes. They publicly criticize oppressive policies and engage in advocacy efforts to promote accountability and transparency, even if their actions aren’t as extensive as those of Moral Leaders.

Latest Events

MAR

14

2024

Quontic Bank’s Community-Focused Digital Transformation
75.04

Quontic Bank is leveraging adaptive digital banking alongside its status as a CDFI to promote community development, customer-centric financial practices, and innovative technology integration. This approach supports financial inclusion and ethical business practices in a way that resists oppressive, authoritarian economic models.
+80

Public and Political Behavior

March 24

Quontic Bank’s emphasis on fostering community engagement through its digital initiatives and CDFI status demonstrates a commitment to transparent and inclusive public practices. Such efforts play a vital role in countering authoritarian tendencies by promoting civic participation and resisting policies that harm underserved communities.

Quontic Combines Adaptive Digital Banking and Its Role as a CDFI to Help Communities Across America
+90

Business Practices and Ethical Responsibility

March 24

The bank’s innovative business practices—including flexible lending, elimination of overdraft fees, and novel mortgage products tailored for non-traditional borrowers—highlight strong ethical responsibilities. Its model promotes fair treatment of customers and supports economic empowerment, standing in opposition to exploitative practices.

Quontic Combines Adaptive Digital Banking and Its Role as a CDFI to Help Communities Across America
+85

Technology and Services Impact

March 24

Quontic Bank’s deployment of cutting‐edge technology—such as its innovative Pay Ring and advanced digital platforms—demonstrates how technology can be harnessed to enhance customer experience and financial accessibility without contributing to centralized surveillance or authoritarian control.

Quontic Combines Adaptive Digital Banking and Its Role as a CDFI to Help Communities Across America
+80

Economic and Structural Influence

March 24

Through its flexible financial products and targeted services for underserved groups, Quontic Bank positively influences economic structures. Its community-first approach helps stimulate local economies and is a bulwark against the disempowering effects often associated with authoritarian economic policies.

Quontic Combines Adaptive Digital Banking and Its Role as a CDFI to Help Communities Across America
JAN

25

2022

Quontic Bank establishes Community Development Advisory Board
59.12

Quontic Bank created a 10-member advisory board focused on Black and Hispanic community development to promote equitable access to financial services and address systemic lending gaps.
+80

Public and Political Behavior

March 24

By establishing an advisory board that includes key community figures from Black and Hispanic backgrounds, Quontic Bank is engaging in inclusive public and political practices. This move strengthens community ties and promotes democratic participation by giving a voice to underrepresented groups.

Quontic Bank creates 10 member advisory board to support community development efforts
+85

Business Practices and Ethical Responsibility

March 24

The formation of the advisory board underscores Quontic Bank’s commitment to ethical business practices by actively addressing historical inequities in lending and financial services. This decision demonstrates a clear focus on supporting community development and fair treatment for underserved populations.

Quontic Bank creates 10 member advisory board to support community development efforts
+80

Economic and Structural Influence

March 24

The advisory board initiative reflects an effort to influence the bank's economic and structural practices by integrating community expertise into decision-making processes. This participatory approach can lead to more equitable financial structures and long-term community investment.

Quontic Bank creates 10 member advisory board to support community development efforts
OCT

29

2018

Quontic Bank Formal Agreement with the OCC Highlights Unsafe Banking Practices
-20.93

In October 2018, Quontic Bank entered into a formal agreement with the Office of the Comptroller of the Currency after it was found to have engaged in unsafe and unsound banking practices, particularly related to board oversight and funds management. This enforcement action underlines deficiencies in ethical business practices which, from an anti-fascist perspective, undermine public trust and responsible financial governance.
-40

Business Practices and Ethical Responsibility

March 24

The formal agreement imposed by the OCC revealed significant shortcomings in Quontic Bank’s internal controls and oversight mechanisms. Such unsafe practices contribute to broader systemic risks and may indirectly support the erosion of public accountability, a critical concern from an anti-fascist and ethical perspective. The incident reflects poorly on the bank’s commitment to responsible business practices and ethical responsibility.

Facebook Formal Agreement 2018-093 - Office of the Comptroller of the Currency (OCC)