Top Canadian Banks Boycott Ads on Facebook Throughout July
Top Canadian Banks Boycott Ads on Facebook Throughout July

Companies joining the movement #StopHateForProfit is gradually increasing. With more than 400 others, the top banks of Canada announced to join the movement, by pausing their ad spending on Facebook and related platforms for July. These are popular names like RBC, CIBC, Scotiabank, National Bank of Canada, TD, BMO, Laurentian, and Desjardins bank.

Top Canadians Boycott Ads on Facebook!

Top Canadian Banks Boycott Ads on Facebook Throughout July
Top Canadian Banks Boycott Ads on Facebook Throughout July

Ever since the unjust death of George Floyd happened in May, activists and human rights groups are aggressively knocking on every opportunity that undermines black people. This includes fighting against Donal Trump, who’s harshly countering the rallies, with warnings and hate speeches. Besides affecting the image of democracy, it’s also affecting the companies that support facilitating hate speech. Thus, Facebook!

Facebook was alleged for not acting properly on hate speech and Trump’s posts which, indeed seemed as warnings to activists. This led US civil rights groups like NAACP to start a campaign called #StopHateForProfit, whereby asking companies to boycott their ad spending on Facebook and its related platforms at least for a month.

This was soon picked up by many popular companies like Adidas, Coca-Cola, Unilever, etc. And now, the list grows with the addition of eight banks from Canada, namely, National Bank of Canada, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Toronto-Dominion Bank, Bank of Montreal, Royal Bank of Canada, Laurentian Bank and Desjardins bank.

These banks vowed to pause their ad spending on Facebook for July. BMO said it is continuing its “ongoing dialogue with Facebook on changes they can make to their platforms to reduce the spread of hate speech.” Whereas RBC said one way to help clients and communities is to stand against “misinformation and hate speech, which only makes systemic racism more pervasive.”

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