Inside the Literal Bank of the Democrat Party, and its Outsized Role in the Left's Long March

Amalgamated has distinguished itself from its Woke Capital peers in its progressive activism -- and opened itself up to congressional scrutiny

The Left's Little Financial Engine That Could (Change the World Radically)

(Amalgamated Bank/Facebook)

In RealClearInvestigations, I report on the little (and little-known) progressive bank serving as the tip of the spear of the ESG movement — Amalgamated, the preferred bank of the Democratic Party, activist groups, and major labor unions.

In the report, I reveal among other things:

• Amalgamated Bank's deep ties to the Democrats, which may make it a new model for how progressive corporations, politicians, and activists can push the ESG agenda outside the political process.

• Amalgamated’s unique and unusual push to promote cherished progressive goals such as gun control and abolishing fossil fuels, leveraging its political and financial position.

  • Amalgamated in fact ran with New York Times columnist Andrew Ross Sorkin’s novel idea to use credit card merchant codes to -- as critics put it -- “target, surveil and discourage gun and ammunition sellers.”

  • Through the Net Zero Banking Alliance — which has landed a number of major banks in hot water with state attorneys general — Amalgamated has also taken a leading role in driving the green agenda.

• Unsurprisingly, Amalgamated is in the crosshairs of the newly Republican-led House, though figures on Capitol Hill remain tight-lipped about whether and to what extent they will probe the bank, particularly over its anti-gun efforts.

• Critics are suspicious of the bank’s taking money from Democrats and unions, including those of public sector employees, to pursue policies that will benefit those clients.

Read the whole thing here.