Is it a sin to pay no attention to where your bank invests your money?

[DL82]

For most people, the decision as to where to invest their savings will be based on where they think their savings will:
a) be safest
b) get the best interest rate.

Is it sinful to allow these considerations to blind us to where our banks invest our money? Do they invest in international arms trading, unethical dictatorships overseas, the abortion industry? Is it sinful to invest where the best interest rate is, when there are other, ethical banking alternatives?

 

[St_Francis]

I think that it would be sinful to invest one’s money in order to promote something sinful, like investing in a condom company in order to have more condoms in the world.

And I think it would be possibly sinfully careless to invest in a company known for *mainly *selling or making an intrinsically sinful product.

However, considering where your bank or mutual fund invests is more tricky, because the act is more remote (remote material cooperation), as would be investing in a company which makes many items only some of which are sinful.

I think that there are companies which ensure that the funds placed with them are not invested in companies which are morally objectionable, and this would be laudatory.

 

[06convert]

As a general rule you are only directly responsible for where you spend your money. You and 2nd party. You are not responsible for how a third party person or company spends your money. You can control who you give your money to, but you can’t control where it goes after that.

If you give to Planned Parenthood they will take that money and spend it on condoms, contraceptives, and abortions. This is not a good place to give money.

If you give your money to the bank, and the bank gives to Planned Parenthood. Not your problem. Certainly, if you want to take it to the next step and find out where the bank invests your money you can, but you are not obligated.

For example. United Way. They take in money and dispurse it to a list of places that they have decided to give money to. Providing the list isn’t full of abortion clinics or something like that, I can give money to United Way all day long without having any moral issues.

However, because I research charities before I give money to them, I know United Way gives to organizations like Girls Inc. that in turn give money to places like Planned Parenthood. As a matter of principle I don’t give to organizations that get donations then use the money poorly. I try to make sure within reason that my money isn’t going to trickle down to abortion clinics. But you can’t follow the money every step of the way, nor are we obligated.

 

[wcknight]

It would be very difficult to determine where any institution invests its money. IF I knew they were investing in immoral or unethical projects, I would pull my money out. But it is not my responsbilty to oversee their investments. We are only responsoble for what we invest in directly. Where it goes beyond that is out of our control.