Bank of Montreal (BMO) — Ethics Grade C

Bank of Montreal (BMO) receives an overall ethics grade of C (52/100) on CancelCo's corporate accountability database. Sector: Financial Services. Market cap: Large Cap.

Category scores

• labor: 75
• privacy: 70
• consumer: 55
• environment: 35
• humanRights: 60

Documented incidents (3)

• Fossil Fuel Financing (medium, 2023) — BMO was identified as a major world financier of fossil fuel expansion, contributing billions to oil sands and pipeline projects despite net-zero pledges.
• AML Compliance Failures (medium, 2024) — Canadian regulators fined BMO for failing to report suspicious transactions and non-compliance with anti-money laundering regulations.
• Hidden Fees Controversy (low, 2022) — Consumer advocacy groups flagged BMO for complex fee structures that disproportionately affected low-income checking account holders.

Documented good deeds

• Zero Barriers to Inclusion — BMO exceeded its representation goals for women and minorities in executive leadership roles.

Ethical alternatives

• Vancity Credit Union — Focuses on community reinvestment and ethical fossil-free lending.