Citizens Financial Group, Inc..
CFG.US | Other monetary intermediation
Citizens Financial Group, Inc. is a bank holding company. It provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, and large corporations. The company's offerings include checking and savings accounts, loans, mortgages, credit cards, ...Show More
Better Health for All
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Citizens Financial Group's core banking products and services have no direct positive or negative health impact. The company has demonstrated support for mental health, announcing $500,000 in grants in February 2025 to expand mental health and well-being resources
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, including $450,000 for nine nonprofits providing mental health services
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. In September 2024, it partnered with Mental Health America to launch a $450,000 grant program for mental health services and a webinar series addressing financial stress
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. The company also added mental health resources for employees in January 2023
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. Furthermore, a $50,000 grant was awarded to NAMI for promoting mental health awareness
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. Citizens committed $10 million to general workforce development
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and set a $50 billion sustainable finance target by 2030
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, including $5 billion for affordable housing and community development, which indirectly supports public health
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. As a financial institution, its operations do not involve health-related R&D, preventative health measures, healthcare data management, pharmaceutical patents, nutrition, addiction potential, or clinical trials.
Fair Money & Economic Opportunity
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Citizens Financial Group was penalized $9 million by the CFPB in May 2023 for improperly handling customer credit card disputes and fraud claims.
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The company has also demonstrated commitment to small businesses and underserved communities, allocating $65 million since 2020 to Community Development Financial Institutions, including $12 million in 2023.
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In 2023, it provided $388 million in loans to 6,700 small businesses in low- to moderate-income or majority-minority census tracts.
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The Small Business Community Champions Program has awarded $1.5 million to 142 minority, women, and veteran-owned businesses since its inception.
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Fair Pay & Worker Respect
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Citizens Financial Group conducts an annual independent pay equity analysis.
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This analysis confirms that women earn 99% of men's compensation in similar roles, and racially diverse colleagues receive equal pay to their white counterparts.
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Any identified disparities are corrected with pay adjustments.
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Fair Trade & Ethical Sourcing
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Citizens Financial Group, Inc. operates in the financial sector and does not directly engage in physical supply chains. Consequently, KPIs related to the procurement and trade of physical commodities, such as fair-trade certification, supply chain audits, child/forced labor incidents, traceability, remediation processes for sourcing violations, ethical sourcing clauses in contracts for physical goods, and high-risk material spend, are not applicable to its core business model. While the company has made social equity and capital commitments to minority communities, the provided evidence does not specify the percentage of its procurement budget directed to diverse suppliers, preventing a score for that KPI. Citizens Financial Group is supporting diversity, equity, and inclusion, supported by a $10 million social equity commitment and a $500 million capital commitment in minority communities.
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Honest & Fair Business
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Citizens Financial Group incurred a $35 million penalty for a self-identified discrepancy that impacted approximately 2% of credit card customers.
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The company maintains a Code of Business Conduct and Ethics, which includes anti-money laundering and bribery measures overseen by the Board, and all employees undergo annual training.
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Kind to Animals
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No evidence available to assess Citizens Financial Group, Inc. on Kind to Animals.
No War, No Weapons
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Citizens Financial Group, Inc. (CFG.US) is subject to and complies with economic sanctions administered by the U.S. Treasury Department's Office of Foreign Assets Control (OFAC), which affect transactions with designated foreign countries and nationals.
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Planet-Friendly Business
-40
Citizens Financial Group aims to achieve carbon neutrality in its operations by 2035.
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The company has set interim targets to reduce Scope 1 and 2 greenhouse gas emissions by 30% by 2025 and 50% by 2035, based on a 2016 baseline.
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Respect for Cultures & Communities
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Citizens provided grants to 22 minority-owned businesses in New York City's Chinatown through a $350,000 fund in May 2023
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, which also offered technical assistance to 100 small businesses
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, aiming to preserve cultural vibrancy. The company has established 8 formal partnerships with local community groups, including LISC, Year Up, Junior Achievement, Education Design Lab, Girls Who Code, Council for Economic Education, Urban Edge, and Esperanza, for workforce development and financial literacy
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. Citizens committed $10 million in September 2024 for workforce development
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and $10 million in June 2020 for social equity and economic advancement
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, which included grants for minority-owned businesses and the creation of Economic Opportunity Funds
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. The company also recognizes Hispanic Heritage Month annually
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.
Safe & Smart Tech
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In December 2024, Citizens Bank reported a data breach affecting over 8,300 individuals, involving unauthorized access to personal information
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. The bank notified affected individuals and offered 24 months of complimentary credit monitoring services
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. In December 2023, an unauthorized email was sent to subscribers via a third-party alert system
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. Citizens Financial Group is enhancing its AI governance through recruitment, including an Operational Risk Senior Manager focusing on AI oversight
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, and emphasizes a 'human in the loop' approach for accuracy and security
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. SSL technology is used to encrypt sensitive data transmissions
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.
Zero Waste & Sustainable Products
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No evidence was found in the provided article to assess Citizens Financial Group, Inc. against the 'Zero Waste & Sustainable Products' ethical value. The article focuses on greenhouse gas emission reduction targets
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, renewable energy
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, and sustainable financial products
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, which do not directly relate to waste management, product recyclability, packaging, or circular design principles.