boikot - Corporate Ethics Database | Keeping Companies Accountable

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Wells Fargo

finance

20 😡

Is Wells Fargo Ethical?

Wells Fargo is not ethical

Wells Fargo is an American bank that has engaged in misleading fees ^[1]^[2], predatory sales practices ^[3]^[4], and invested in private for-profit prisons ^[5]. The company has also mismanaged loans and mortgages ^[6], fired whistleblowers ^[7]^[8], foreclosed homes due to software glitches ^[9]^[10], and perpetuated racism in employment ^[11]^[12] and mortgage approval processes ^[13]^[14]^[15] as well as sexism in employment practices ^[16]^[17].

Alternatives to Wells Fargo

Send your message and feel good about where you shop. These companies are alternatives to Wells Fargo.

52 alternative companies tagged: finance

Monzo

finance

45 😐

Monzo is a UK-based digital bank that has provided inaccurate fee and statement information to customers [1][2][3][4], froze customer accounts without good reason [5], prioritized profits over customers and employees [6], failed in anti‑money‑laundering compliance [7][8], and wrongly denied refunds to scam victims [9].

N26

finance

45 😐

N26 is a German fintech company that closed customer accounts without reason, including those of Ukrainian refugees [1], enabled money laundering [2][3], failed to protect users against cyber security vulverabilities [4][5], and opposed employees forming a union [6].

Revolut

finance

44 😐

Revolut is a UK-based fintech company that has been accused of misleading customers [1], enabling money laundering [2], and failing to protect or reimburse defrauded customers [3][4]. Its internal practices have been criticized for poor working conditions [5], high turnover and unpaid work for employees [6], and unexplained customer account closures [7][8].

Visa

finance

44 😐

Visa is an American payment processing company that has repeatedly engaged in anticompetitive, monopolistic practices [1][2][3][4][5][6][7].

Itaúsa

finance

44 😐

Itaúsa is a Brazilian conglomerate involved in corruption [1] which has also faced anti-money laundering failures [2][3].

Duratex

finance

44 😐

Duratex is owned by Itaúsa.

Alpargatas S.A.

finance

44 😐

Alpargatas S.A. is owned by Itaúsa.

Itaú Unibanco

finance

44 😐

Itaú Unibanco is owned by Itaúsa.

American Express

finance

43 😐

American Express is an American payment card company that has repeatedly forced unlawful fees on its customers [1][2][3][4], misled small business about its services [5], engaged in various anticompetitive practices [6][7] and discriminated against female employees [8] as well as spanish-speaking customers [9].

10.

Western Union

finance

42 😐

Western Union is an American money transfer company that has engaged in anticompetitive monopolistic practices [1][2]. It has also failed in anti‑money laundering practices [3][4][5] and defrauded customers [6].

11.

Accenture

finance

41 😐

Accenture faces criticism for working with Isabel dos Santos, accused of corruption, and is under employee backlash over a $297 million contract with Customs and Border Protection (CBP) that supports inhumane policies [1]. Accenture has been involved in allegations of corruption-linked businesses and faces internal protests similar to those at Amazon, Salesforce, Microsoft, and Google [2].

12.

Liberty Mutual

insurance

38 😡

Liberty Mutual is an American insurance company that has mishandled customer complaints [1][2], misled customers [3], manipulated insurance markets to overcharge customers [4], bribed government officials in India to secure new business [5], and violated insurance laws [6]. The company has also underpaid employees [7][8] while paying excessive executive compensation and supplying private jets [9][10][11][12].

13.

State Auto Group

insurance

38 😡

State Auto Group is owned by Liberty Mutual.

14.

Safeco

insurance

38 😡

Safeco is owned by Liberty Mutual.

15.

Ironshore

insurance

38 😡

Ironshore is owned by Liberty Mutual.

16.

Progressive Corporation

insurance

38 😡

Progressive Corporation is an American insurance company that often rejects customers' insurance claims [1], failed to protect customers' information leading to data breaches [2][3], and defrauded Medicare and Medicaid [4]. It systematically underpaid customers who lost their cars in accidents [5][6][7], provided legal assistance against its own customers to avoid paying out insurance claims [8], spied on a church group making an insurance claim [9], and drove customers into debt after delaying and rejecting their valid insurance claims [10].

17.

Paypal

finance

35 😡

Paypal is an American company that has engaged in anticonsumer practices [1], deceptive practices [2], and inadequate anti‑fraud systems [3]. It has stolen users' funds [4][5], blocked the accounts of political activists—a practice that has supported the Russian regime [6][7][8][9][10][11], fined users promoting misinformation [12][13], and suspended journalists' payments over coverage of Syrian families [14].

18.

Mastercard

finance

34 😡

Mastercard is a U.S. company that collaborated with the Nigerian government to track payments linked to ID cards [1], tricked customers into sharing financial data [2], and sells customer payment data for profit [3]. It has charged illegal fees and overcharged customers [4][5][6], engaged in anticompetitive monopolistic practices [7][8][9], and discriminated against employees on race and gender grounds [10].

19.

Allianz

insurance

26 😡

Allianz is a German insurance company that has engaged in price fixing [1] and misled consumers [2], discriminated against those with mental health issues [3], bribed government officials in indonesia [4], invested billions into businesses involved with illegal settlements in the West Bank and the Israeli Government [5][6], and had close with Nazism during the 20th century [7].

20.

Liverpool Victoria

insurance

26 😡

Liverpool Victoria is owned by Allianz.

21.

Petplan

insurance

26 😡

Petplan is owned by Allianz.

22.

Santander

finance

21 😡

Santander is a Spanish banking company that has been accused of poor working conditions [1], underpaying employees [2], giving customers bad investment advice [3], and engaging in tax avoidance [4] and tax fraud [5]. It also enabled money laundering [6][7][8], overcharged customers on predatory car loans [9][10][11] and used deceptive loan practices [12], while financing fossil fuel projects [13] and contributing to deforestation in Paraguay [14] and South America with more than $1 billion in loans [15].

23.

Lloyds

bank

20 😡

Lloyds is a British bank that has engaged in tax avoidance [1], libor interest rate fraud [2], and has misled customers through greenwashing [3][4][5], defrauded customers [6][7][8], used threatening language and misleading branding to intimidate customers into paying bills [9], and engaged in car finance fraud [10]. Additionally, it has pressured employees leading to product mis-selling [11] and financed nuclear weapons and arms sales to Israel [12].

24.

State Farm

finance

20 😡

State Farm is a U.S. insurance company that failed to pay Hurricane Katrina victims' claims [1][2][3], rejected thousands of valid insurance claims [4][5][6], and violated customers' healthcare data privacy [7][8]. The company has engaged in bribery and corruption [9][10], promoted a net‑zero pledge while investing in fossil fuels [11][12], practiced sexist hiring practices [13][14], discriminated against disabled employees [15] and racially discriminated against both employees and customers in its claims process [16][17][18][19].

25.

Berkshire Hathaway

finance

17 👺

Berkshire Hathaway is an American conglomerate that has ignored climate risk in insurance underwriting [1], financed unsustainable coal power generation [2], polluted its local environment and rivers [3][4], and negligently caused wildfires through faulty electrical lines and failing to shut off power [5][6][7][8]. It has also compromised consumer data security [9], used prison labor [10], engaged in racial discrimination in mortgage lending and redlining [11][12], failed to report safety defects and launch recalls [13], and exposed employees to unsafe working conditions leading to injury [14].

26.