WaFd, Inc. (WAFD) — ESG & Values Scores

Environment story

WaFd operates as a regional bank with limited direct environmental footprint typical of financial services. No disclosed Scope 1, 2, or 3 emissions data or net-zero targets found in filings. Environmental risk disclosures focus on climate-related impacts to borrowers and collateral (real estate), rather than operational decarbonization. The company acknowledges physical climate risks (earthquakes, wildfires, floods) in its nine-state western U.S. footprint and notes that federal climate policy emphasis has diminished under current administration. Environmental score reflects absence of verified emissions reduction commitments and lack of climate-aligned operational initiatives, partially offset by acknowledgment of climate risks to business model.

Criticisms on file

Absence of disclosed emissions inventory or net-zero target
Source: WAFD 10-K 000093652825000117 - Risk Factors section contains no environmental performance metrics

Disclosed initiatives

Climate Risk Acknowledgment in Risk Factors

Company discloses climate change as a material risk to borrowers, collateral value, and regional economies. Recognizes physical effects (severe weather, disasters) and transition risks (regulatory/policy changes).

Demonstrates awareness but no operational mitigation strategy disclosed

Social story

WaFd demonstrates moderate social governance. No disclosed CEO-to-worker pay ratio or diversity metrics for leadership/board found in 10-K. The company has settled class action lawsuits: $495,000 (2022, overdraft/NSF fees) and ~$2.1 million (May 2024, FLSA wage/overtime violations). No active union suppression documented; no disclosed labor disputes in past 24 months. Recent restructuring associated with exit from single-family mortgage business ($5.4 million charge) may affect workforce but no reduction metrics provided. Supply chain human-rights audits not disclosed. Social score reflects absence of positive diversity commitments, prior wage-and-hour litigation settlements, and lack of disclosed retention/turnover data, partially offset by no evidence of active labor suppression.

Criticisms on file

FLSA Class Action Settlement - May 2024
Source: WAFD 10-K 000093652825000117, Risk Factors: 'In May 2024, we received court approval for the settlement of a class action claim related to alleged violations of the FLSA...the Bank ultimately paid approximately $2.1 million'
Overdraft Fee Class Action Settlement - 2022
Source: WAFD 10-K 000093652825000117, Risk Factors: 'In 2022, the Bank paid $495,000 plus claims administrative expenses to settle a class action lawsuit related to allegations of improper assessments of overdraft and insufficient funds fees'
No disclosed diversity metrics for leadership or board
Source: WAFD 10-K 000093652825000117 - DEI data not provided in Risk Factors or operations sections

Disclosed initiatives

Class Action Settlements (Risk Mitigation)

Paid $495,000 (2022) for overdraft fee litigation and $2.1 million (May 2024) for FLSA wage/overtime claims. Indicates responsiveness to wage/labor disputes.

Demonstrates settlement of identified labor/wage violations but does not indicate systemic reforms

Governance story

WaFd faces significant governance challenges reflected in its December 2024 'Needs to Improve' Community Reinvestment Act (CRA) rating from the FDIC, which restricts M&A and branch expansion until next examination (likely 2026). The company has appealed this rating. Prior regulatory enforcement actions include a $2.5 million civil money penalty and consent order from OCC for BSA/AML program violations, plus $234,000 in HMDA penalties. Board independence percentage not disclosed; dual-class share structure not evident from filings, but Washington anti-takeover statute (23B.19) restricts persons holding ≥10% voting stock. Lobbying expenditures and political contributions not disclosed. No evidence of climate deregulation lobbying or antitrust proceedings. Governance score reflects CRA enforcement action, prior AML/HMDA fines, regulatory restrictions on expansion, and lack of disclosed board independence metrics.

Criticisms on file

FDIC 'Needs to Improve' Community Reinvestment Act Rating (Dec 27, 2024)
Source: WAFD 10-K 000093652825000117, Risk Factors: 'On December 27, 2024, the Bank received an overall CRA rating from the FDIC of 'Needs to Improve' for the period covering June 3, 2020 to March 26, 2024...restrictions on certain expansionary activity, including mergers and acquisitions and the establishment and relocation of bank branches'
OCC Consent Order - BSA/AML Violations
Source: WAFD 10-K 000093652825000117, Risk Factors: 'The Bank has in the past been subject to a Consent Order from the Office of the Comptroller of the Currency (OCC) for its BSA program, which required the Bank to incur significant expenses...payment of a $2,500,000 civil money penalty'
HMDA Compliance Consent Orders
Source: WAFD 10-K 000093652825000117, Risk Factors: 'the Bank was previously subject to two Consent Orders for violations of the reporting requirements under the Home Mortgage Disclosure Act (HMDA) which included a total of $234,000 in civil money penalties'

Disclosed initiatives

CRA Rating Appeal

Bank received overall 'Needs to Improve' CRA rating (Dec 2024) based on Lending Test performance despite 'High Satisfactory' ratings on Investment and Service Tests. Bank has appealed the rating.

Appeal outcome pending; restrictions remain until next examination (likely 2026)

These are Missionomics' own editorial scores — directional signals built from disclosed facts under a published method, not certifications or definitive ratings of WaFd, Inc.. Coverage and confidence vary by data point, and figures can lag real-world changes. Read the full Methodology for sourcing, scoring, and correction details — or open WaFd, Inc. in the app for interactive charts and portfolio building.

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