Both Goldman Sachs and JPMorgan Chase said they will likely halt political donations for six months, while Citigroup announced a first-quarter pause. Protections for individuals with disabilities: The bill would address some of the biggest challenges to voting access that Americans with disabilities face. 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. Gov. Around the world, there are increasing concerns that fake news threatens democracy. A beautifully American ideal, but a reality denied to many for much of this nations history. Bank of America has not reported any outside spending in the 2022 election cycle. Misinformation And Disinformation Negatively Affect Election Outcomes And Ultimately Erode Confidence In Democracy, Generating Support For Emergent Anti-Democratic Forces., The Washington Post: Around The World, There Are Increasing Concerns That Fake News Threatens Democracy. At the same time, however, the likely political impact of a widespread banking crisis if First Republic Bank was simply allowed to fail could prove even more damaging to Americans generally and to . 1112, AR H.B. The bill now moves to the Senate where it faces an uncertain fate as GOP resistance is growing. [CNN, 5/19/21], In May 2021, Senate Republicans Filibustered Bipartisan Legislation To Establish An Independent Commission To Investigate The Jan. 6 Attack On The U.S. Capitol. Bipartisan legislation to establish an independent commission to investigate the Jan. 6 attack on the U.S. Capitol has failed in the Senate, as Republicans staged their first filibuster since President Biden took office to block the plan. Provisions are categorized as restrictive if they would make it harder for Americans to register, stay on the rolls, and/or vote as compared to existing state law. [Brennan Center for Justice. Customers are calling for a boycott of Bank of America, after a report that the bank handed over the account information of hundreds of innocent people in connection with the Jan. 6 deadly riots . The Senate was unable to move the For the People Act to the floor for a debate. As Americans, we know that in our democracy we should not expect to agree on everything. 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. 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. To request permission for commercial use, please contactus. All political activities carried out on behalf of Bank of America are managed by the leaders within the Public Policy Department, who report to the Strategy and Public Policy Executive. Are Not Insured by Any Governmental Agency. 20005. The Senate on Wednesday voted against the Freedom to Vote Act and The John Lewis Voting Rights Advancement Act, striking the fatal blow into Senate Democrats effort to pass major voting rights legislation. The Senates recently introduced Freedom to Vote Act (FTVA) incorporates most of the critical provisions from the For the People Act (FTPA), landmark voting rights and anticorruption legislation that passed the House of Representatives in March 2021. With the 2020 election season underway, Business Roundtable welcomes efforts by governors to address barriers to voting, including new challenges raised by the pandemic. Content contained herein may have been produced by an outside party that is not affiliated with Bank of America or any of its affiliates (Bank of America). Because the NASA bill had already been considered by both chambers, it proceeded to debate with a simple majority instead of the usual 60 votes required to advance to debate. [Business Insider, [United States House of Representatives, Accessed. Elections in the United States fall on workdays for millions of Americans, making it difficult for some to participate in a civic process that is core to our democracy. The Bank of America Code of Conduct guides us in all that we do. 75. Today, dozens of leading companies announced a commitment to participate in the Civic Alliance, Americas premier nonpartisan coalition of businesses working together to build a future where everyone can vote, volunteer, and take action to shape our country. [Democracy Works, 1/29/20], As Of March 22, 2022, Bank Of America Corporation CEO Brian Moynihan Is A Member Of The Business Roundtable. We all should feel a responsibility to defend the right to vote and to oppose any discriminatory legislation or measures that restrict or prevent any eligible voter from having an equal and fair opportunity to cast a ballot. Bank of America discloses an itemized list of the recipients and amounts of such contributions as required by law. Senate Republicans blocked the John Lewis Voting Rights Act from advancing on Wednesday when the Senate took a procedural vote on whether to open debate on the legislation. American Express and Mastercard said they had. Accountable.US conducted Nexis and Google searches using Bank of Americas name combined with the terms disinformation and each of the following: election, 2020, ballot, vote, and voting. Accountable.US also ran the same searches with the term misinformation. As of August 15, 2022, Bank of America does not appear to have enabled the sharing of electoral misinformation/disinformation nor allowed its platform to be used to share electoral misinformation/disinformation since the 2020 election cycle. The final tally was 50 to 49 with GOP Sen. Lisa Murkowski of Alaska voting with Democrats in favor. [CNN. 2663, TX H.B. 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. 24 percent of the Republican lawmakers voted for an outside, partisan review of the 2020 election (often referred to as an audit). Contribution refunds; Contributions from political party committees and other political committees When Bank of America makes any of these contributions, it does so to promote the interests of the company and without regard to the private political preferences of its executives. A strong majority of senior executives (82% of survey respondents) also believe they will need additional resources to generate ESG disclosures that meet the information needs of critical stakeholders. [Deloitte, 3/14/22], The New York Times: Political Donations Fall Within The Purview Of The Burgeoning Environmental, Social And Governance Investing Movement, Known As E.S.G. And By Not Being Forthcoming About Donations, Or By Waving Away Inconsistencies Between Statements And Spending Investors Could Shun A Stock Or Organize Public Rebukes Of Directors. Political donations fall within the purview of the burgeoning environmental, social and governance investing movement, known as E.S.G. 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. Bank of America does not assume liability for any loss or damage resulting from anyone's reliance on the information provided. 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. The strength of our democracy depends on the integrity and fairness of our nations elections. This leads to the election of incompetent and perhaps corrupt or self-dealing governments. Bank of America has identified the employees who are covered by such restrictions and requires that those employees pre-clear any contributions with designated Compliance personnel. Bank of America's PAC is a fully voluntary program. PAC Contributions from Bank Of America Corporation Pac (Fka Mbna Corporation Federal Political Committee) to Connecticut Democratic State Central Committee FEC data from 1987 through 2018. Relationship-based ads and online behavioral advertising help us do that. Market Data copyright 2023 QuoteMedia. This statement sets forth basic principles concerning the company's stance on political contributions and activities. Contributions from this PAC to federal candidates ( list recipients) 42.99% to Democrats, 57.01% to Republicans. However in the next election cycle 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. [CNN. There are also regulatory, litigation and insurance risks to E.S.G. In other fallout, the P.G.A. Contributions. Company goals are aspirational and not guarantees or promises that all goals will be met. A bank checking account serves several purposes. It would take important steps to limit gerrymandering and make sure that politicians dont get to handpick their voters and entrench their power. Massachusetts Competitive Partnership, Inc. 167 will operate in Nevada and Louisiana, respectively, we have removed the two laws from the list of restrictive laws passed in 2021. [Brennan Center for Justice, 5/26/22], During The 2022 Election Cycle, Bank Of America Does Not Appear To Have Contributed To Elected Officials Who Continue To Peddle The Big Lie Via Election Audits Since The 2020 Election. 568, ID H.B. Employees who wish to accept an appointment to public office or file as a candidate for election must first obtain approval consistent with Bank of America policy to avoid any conflict of interest. Banking, credit card, automobile loans, mortgage . These fictions about rigged elections and widespread fraud have provided the foundation for new laws that make it harder to vote and easier to insert partisanship in the vote count. Bank of America and its affiliates do not make corporate contributions to candidates for public office or political parties, and do not use corporate funds to make independent political expenditures. However, a review of campaign finance records . In each of those states, the election was conducted without any evidence of widespread fraud, leaving election officials from both parties in agreement on the victory of Joseph R. Biden Jr. [The New York Times. Except for the Revolving Door section, content on this site is licensed under a Creative Commons Attribution-Noncommercial-Share Alike 3.0 United States License by OpenSecrets.org. Our PAC contributes to both parties and takes a lot of factors into account. Citigroup's contributions are evenly split for. This includes rigorous due diligence of any candidate at the state or federal level before a PAC contribution is considered and made. entertainment, news presenter | 4.8K views, 28 likes, 13 loves, 80 comments, 2 shares, Facebook Watch Videos from GBN Grenada Broadcasting Network: GBN News 28th April 2023 Anchor: Kenroy Baptiste. Our book shows that when voters are poorly informed, enough voters are more likely to make mistakes at the polls. [The New York Times. Business Roundtable members believe state laws must safeguard and guarantee the right to vote. [Business Roundtable, 3/31/21], Business Roundtable CEOs: Paid Time Off And Flexibility For Voting Are Best Practices. [Business Roundtable, 7/21/20], The Business Roundtable Released A Statement Saying The Strength Of Our Democracy Depends On The Integrity And Fairness Of Our Nations Elections, Welcoming Efforts To Address Barriers To Voting At The State Level. AL H.B. These numbers are extraordinary: state legislatures enacted far more restrictive voting laws in 2021 than in any year since the Brennan Center began tracking voting legislation in 2011. [Time To Vote, Accessed 3/22/22]. The reviews have been used to justify new voting laws and efforts to decertify the 2020 election. [The New York Times, 5/22/22], The Controversial Election Audit In Arizona Wrapped Up By Increasing President Joe Bidens Margin Of Victory While Conservatives In Other States Began Pursuing Probes That Could Sow New Doubts In The Presidential Vote Count. Arizonas highly controversial election audit wrapped up Friday as the GOP-backed company conducting it announced the investigation had actually increased President Joe Bidens margin of victorybut Republicans in multiple other states are already underway on other probes that could sow new doubts in the presidential vote count. [Forbes, 9/26/21], In Wisconsin, Assembly Speaker Vos Election Investigation Moved Forward, Led By A Former State Supreme Court Justice Who Has Expressed Openness To MyPillow CEO Mike Lindells Baseless Claims Of Election Fraud. Three different election investigations are underway in Wisconsin: an investigation initiated by Republican Assembly Speaker Robin Vos, a separate so-called forensic audit modeled after Arizona by GOP Rep. Janel Brandtjen and an investigation by the states nonpartisan Legislative Audit Bureau, which the Republican-led legislature asked it to conduct. Voting is the lifeblood of our democracy and we call upon all Americans to join us in taking a nonpartisan stand for this most basic and fundamental right of all Americans. 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. The researchers also looked at how CEO political preferences differ by geography, based on the. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Contributions to this PAC from individual donors of $200 or more ( list donors) $556,750. San Francisco 1, UT H.B. For American democracy to work for any of us, we must ensure the right to vote for all of us. If you opt out, though, you may still receive generic advertising. The U.S. Chamber of Commerce urged U.S. senators to reject a voting reform bill passed by the Democratic House and the powerful business lobby warned that it might highlight where they stand on the issue. The right to vote should be distributed in the broadest sense and anything that goes against that shouldnt be tolerated, said CEO Brian Moynihan in an interview with CNNs Poppy Harlow on Friday. Other companies, including Bank of America, FedEx and Wells Fargo, said they would review their corporate contribution strategy. More than a third of all restrictive voting laws enacted since then were passed this year. [Brennan Center for Justice, 12/21/21], In May 2022, The Brennan Center Reported That, After Obtaining Additional Information About The Way In Which NV S.B. In 2021, Bank of America made contributions to the following groups organized under Section 527 of the Internal Revenue Code: It is the policy of Bank of America that any payments made to 527 organizations shall only be used for operational and administrative purposes and not to be used to support or oppose any candidate for U.S. federal, state, or local office, or to support or oppose any ballot initiatives. Recent polls have Biden ahead of President Trump in key . shortcomings, which could dent a companys bottom line. [The New York Times. In three states, Arizona, Pennsylvania and Wisconsin, state lawmakers successfully pushed for investigations that sowed doubt about the results and tested the boundaries of their oversight. [The New York Times. In general, Bank of America employees may make personal contributions, within applicable legal limits, to political candidates, political parties, political action committees, and other entities that make political expenditures. Though Bank of America and its affiliates don't make direct corporate contributions to candidates, total amount the various employee PACs the company runs have donated collectively to the lawmakers known to belong as of 2019 to the secretive, far-right House Freedom Caucus, whose leaders have among other things blocked Democratic efforts to . The company also has yet to turn over all the information requested by the congressional committee studying the Jan. 6 attack, though it says it is negotiating with the committee. [The Washington Post. As business leaders and employers of, collectively, over 15 million people, we believe no American including our employees should have to choose between keeping their job and casting their vote. [Business Roundtable. Financial industry regulations and state or local laws prohibit employees of particular lines of business or employees with certain coverage responsibilities from making certain political contributions or engaging in certain political activities.