bank of america political contributions

Contributions from the PAC program support candidates, parties, or committees whose views and actions are consistent with Bank of America's priorities and values. It passed the House, 220 to 210, last month as Republican lawmakers in several states advanced legislation that would impose new rules and restrictions on voting. [Bloomberg. This leads to the election of incompetent and perhaps corrupt or self-dealing governments. [The New York Times, 4/14/21], In An April 14, 2021 New York Times Ad, Hundreds Of Companies And Individual Executives Claimed We Stand For Democracy And That We All Should Feel A Responsibility To Defend The Right To Vote And To Oppose Any Discriminatory Legislation That Would Restrict Voters Access To The Ballot. The FDIC, which is undertaking a "comprehensive review," will release policy recommendations by May 1. This includes rigorous due diligence of any candidate at the state or federal level before a PAC contribution is considered and made. The companies that hold themselves accountable to their stakeholders by increasing transparency will be more viable and valuable in the long term. [Deloitte. PDF What We Do Know - Citizen Bank of Americas chief executive is the latest business leader to speak out about restrictive voting legislation in states such as Georgia and Texas, calling for a federal bipartisan commission to investigate the measures. As a pro-Trump protest turned into a violent attack on the Capitol on Jan. 6 last year, four people in the crowd died. [New York Times. [Open Secrets, Accessed 3/11/22], April 2021: The U.S. Chamber Of Commerce Faced Controversy Over Its Fierce Opposition To The Sweeping Voting Bill Known As The For The People Act, Which Would Have Countered Voting Restrictions That Were Advancing In Georgia And Other States. Republicans passed and signed the 98-page voting law last week following the first Democratic victories in presidential and Senate elections in Georgia in a generation. While our ballots may have been divided, our support for the democratic process and the peaceful transition of power must be unequivocal. [Business Roundtable, 1/7/21], Bank Of America Spokesperson Corporation Bill Halldin: The PAC Will Review Its Decision Making Criteria In Light Of The Actions That Contributed To The Appalling Violent Assault On The U.S. Capitol. Our PAC contributes to both parties and takes a lot of factors into account. It cant be overstated how much the events of this year have put the focus on political spending, said Shelley Alpern, the director of shareholder advocacy at Rhia Ventures, a social impact investment firm. We do regularly communicate with government policymakers, public officials and regulators at the federal, state and local levels in order to promote and advance the long-term goals and interests of our company, customers, stockholders, and economy. Another provision makes it a crime to offer water to voters waiting in lines, which tend to be longer in densely populated communities. [The New York Times. Citigroup's contributions are evenly split for. When engaging in political activities, apart from Bank of America responsibilities, employees are expected to make it clear that they are acting as an individual and not as a representative of the Company. Our principal memberships in financial industry and certain other trade associations that receive more than $25,000 from Bank of America Corporation and its subsidiaries annually are listed below. Contributions from employees are used to support members of both political parties. But most Republicans also oppose the more targeted Lewis-named legislation, which would restore key provisions of the Voting Rights Act that were struck down by the Supreme Court in 2013. [Politico. Bank of America executive emerges as big Republican donor | Charlotte Comcast yanks political contributions to Republican objectors, citing At least 357 sitting Republican legislators in closely contested battleground states have used the power of their office to discredit or try to overturn the results of the 2020 presidential election, according to a review of legislative votes, records and official statements by The New York Times. Both GOP lawmakers, who are frequent critics of former President Donald Trump, were among the 35 House Republicans who voted to establish an independent commission, which was blocked by Senate Republicans. [CNN, 6/30/21], In August 2021, All Republican Members Of The House Of Representatives Voted To Block The John R. Lewis Voting Rights Advancement Act of 2021. Company goals are aspirational and not guarantees or promises that all goals will be met. [Govtrack, 10/20/22], In November 2021, All Republican Senators, Except For Sen. Lisa Murkowski, Voted To Block The John R. Lewis Voting Rights Advancement Act. How we help people, companies and institutions realize their financial goals. > Total contributions (2012-ongoing): $4,769,994 > Donations to Democratic Party: 29% > Donations to Republican Party: 71% > Spending on lobbying (2012-ongoing): $1,380,000 > Industry:. In 2021, Bank of America made such contributions to the following 501(c)(4) organizations at the direction of the companys Public Policy Department: In 2021, Bank of America made no contributions to ballot measure committees at the direction of the companys Public Policy Department. Together with our other policies and procedures, included in our Code of Conduct and Political Action Committee (PAC) governance documents, it guides our company's and employees approach to political involvement. The researchers also looked at how CEO political preferences differ by geography, based on the. If you prefer that we not use this information, you can opt out of online behavioral advertising. When it comes to competitive advantages, Bank of America ( BAC 1.35%) has a huge one. This statement sets forth basic principles concerning the company's stance on political contributions and activities. [Govtrack, Accessed 2/7/22], The Freedom To Vote: John R. Lewis Act, A Combination Of The Freedom To Vote Act And The John Lewis Voting Rights Advancement Act, Failed In The Senate After It Was Tacked On To A NASA Bill That Required A Simple Majority To Proceed To Debate. The John Lewis Voting Rights Advancement Act would modernize and restore preclearance. For American democracy to work for any of us, we must ensure the right to vote for all of us. 319, NH H.B. 264, OK H.B. The bill now moves to the Senate where it faces an uncertain fate as GOP resistance is growing. [CNN. PAC program contributions are made without regard to the private political preferences of the company's Executive Management Team or any other company executive. The final tally was 50 to 49 with GOP Sen. Lisa Murkowski of Alaska voting with Democrats in favor. [CNN, 11/3/21], Politico: HR4 Would Restore Key Provisions Of The Voting Rights Act That Were Struck Down In 2013 By The Supreme Court. Were led by CEOs who are interested in increasing voter participation and represent the following companies. [Time To Vote, Accessed, One of the most common reasons people give for not voting is that theyre too busy with the demands of work and life. As a global financial services company, Bank of America must be - and is - committed to participation in the political process in a manner that is consistent with solid corporate governance practices and in compliance with legal requirements. Bank of America: Millions in Political Donations Revealed After the Capitol riot and a Republican push to pass restrictive voting laws that disproportionately affect racial minorities, investors want to know more about where a companys political donations end up. [The New York Times. [Civic Alliance, Accessed 6/6/22], The Civic Alliance Is A Nonpartisan Coalition Of Businesses That Seeks To Secure Voting Rights For All Americans. Bank of America Has One Advantage Over Other Banks That Dates - Insider Email Alerts. Republican lawmakers attempted to challenge the results of Arizona and Pennsylvania, two swing states Biden won, during and after a violent and deadly attack on the U.S. Capitol by a pro-Trump mob. Garrett Parker Garrett by trade is a personal finance freelance writer and journalist. The firms that are temporarily halting or rethinking how they donate money to politicians via PACs, or political action committees, are some of the most prominent platforms for financial advisers. Corporate PACs: Is the era of company political donations ending? - CNBC The Center for Responsive Politics says the financial sector is "far and away the largest source of campaign contributions to federal candidates and parties." It also spent $536.3 million on. 31, NV S.B. Bank Of America Corporation Is Not A Member Of The Civic Alliance, A Nonpartisan Coalition Of Businesses That Seeks To Secure Voting Rights For All Americans. Political donations fall within the purview of the burgeoning environmental, social and governance investing movement, known as E.S.G. Our recent research supports this view democracy is less likely to survive in a poor informational environment. 285, AL H.B. The U.S. Chamber of Commerce strongly opposes S. 1, disingenuously named the For the People Act of 2021. The Chamber will consider including votes related to this bill in our annual How They Voted scorecard. [Chamber of Commerce, CEO is a member of the Business Roundtable, which has released pro-democracy statements in recent years, Released a statement opposing the events of January 6th, 2021, Published an annual corporate responsibility disclosure/report, Published a public political spending disclosure, Took a major action in support of voting rights or democracy, Has not enabled or allowed its platform to be used to share electoral mis/disinformation, Did not donate to federal lawmakers who opposed voting rights legislation during the 2022 election cycle, Did not donate to federal lawmakers who objected to certifying the 2020 presidential election, Did not donate to federal lawmakers who opposed creating a Congressional January 6th investigation, Donated to state officials who voted for anti-voter legislation during the 2022 election cycle, Did not donate to state officials who supported 2020 election audits, Key company staff made large donations to anti-democracy federal legislators during the 2022 election cycle, Is a member of the U.S. Chamber of Commerce, which opposed recent federal voting legislation. Campaign finance reform might be dead in Washington, but its making progress at the highest levels of corporate America. We do not engage in grassroots lobbying, which means we do not directly communicate with the general public advocating that it take action with respect to specific legislation. Job Description: Job Title Anti-Bribery and Corruption, Americas Corporate Title Vice President Location New York, NY Overview Deutsche Bank benefits from having a highly experienced and dedicated Anti Financial Crime (AFC) function, which performs a crucial role in keeping Deutsche Bank's business operations and global financial services clean from financial crime while serving the interests . Pfizer is one of the largest pharmaceutical companies in the world, and based in Groton, Connecticut. A violent mob loyal to President Donald Trump stormed the U.S. Capitol on Wednesday and forced lawmakers into hiding, in a stunning attempt to overturn Americas presidential election, undercut the nations democracy and keep Democrat Joe Biden from replacing Trump in the White House.

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