Some of Canada’s biggest banks confirmed on Friday that they had joined a boycott campaign against Facebook,media reported. The boycott began with pressure from Civil Rights groups in the United States on Facebook to take concrete steps to block hate speech on its platform. More than 400 brands have withdrawn their ads on facebook in support of the Stop Hate For Profit campaign after George Floyd, an African-American, was detained and killed by Minneapolis police on May 25.
Royal Bank of Canada, Toronto-Dominion Bank, Bank of Canada, Bank of Montreal, National Bank of Canada and Canadian Imperial Bank of Canada Bank of Commerce said it would suspend advertising on Facebook in July.
Desjardins Group, Canada’s largest credit union federation, also said on its website on Thursday that it would suspend advertising on Facebook and Instagram this month “unless there is any particular circumstance requiring communication with members or customers”.
Most of these banks cite their commitment to inclusion and diversity.
A Facebook spokesman said in an email that the company remained open to the civil rights censorship movement and banned 250 white supremacist groups from accessing Facebook and Instagram platforms. He added that Facebook’s investment in artificial intelligence meant that the company had detected and acted on hate speech by nearly 90 percent before users reported it.
Bank of Montreal said it was continuing “dialogue with Facebook about changes they can make to its platform to reduce the spread of hate speech.” “
Royal Bank of Canada says one way to help customers and communities is to combat “false information and hate speech, which will only make systemic racism more common.” “