Here's the bug, with certain amounts of gear and an emblem, the rep bonus for iron banner is too high
Some stats:
1 challenge done, 0 gear, 0 emblem: 2.0 times multiplier
1 challenge done, 1 gear, 0 emblem: 2.4 times multiplier
1 challenge done, 2 gear, 0 emblem: 2.8 times multiplier
1 challenge done, 3 gear, 0 emblem: 3.2 times multiplier
1 challenge done, 4 gear, 0 emblem: 3.6 times multiplier
1 challenge done, 5 gear, 0 emblem: 4.0 times multiplier
With the emblem:
1 challenge done, 0 gear, 1 emblem: 2.2 times multiplier
1 challenge done, 1 gear, 1 emblem: 2.64 times multiplier
1 challenge done, 2 gear, 1 emblem: 3.8 times multiplier
1 challenge done, 3 gear, 1 emblem: 3.52 times multiplier
1 challenge done, 4 gear, 1 emblem: 3.96 times multiplier
1 challenge done, 5 gear, 1 emblem: 4.4 times multiplier
With the emblem and two gear, there is a huge boost of 1.16 times multiplier being added. But if I put on another gear, it goes down by .28 times multiplier.