We are committed to complying with internal policies, all relevant state, federal, and international laws and regulations including SEC Rule 206(4)-5, MSRB Rule G-37, CFTC Rule 23.451, and applicable state and local restrictions on corporate political activity. 196, MT S.B. 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. 2332, KY H.B. Bank of America Corp.'s employee-funded political action committee, or PAC, is putting its allocation decisions on hold after a right-wing mob stormed the U.S. Capitol last week. 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, [Select Committee to Investigate the January 6 Attack on the United States Capitol, Accessed. Contributions from employees are used to support members of both political parties. The final vote Friday was 54-35, but Republicans withheld the votes necessary to bring the bill up for debate. Banking, credit card, automobile loans, mortgage . 319, NH H.B. 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. 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. The BOA PAC has been one of the top 5 contributors among commercial banks to federal candidates every year for the past decade, giving a total of $12,595,165.3 From 2002-2010 the company contributed approximately $6.7 million in corporate funds to political activity.4 Methodology. Are Not FDIC Insured. In light of those events, some companies are temporarily suspending any political action committee (PAC) donations to all lawmakers as they assess their policies. [The Hill, 1/12/21], During The 2022 Election Cycle, Bank Of America Does Not Appear To Have Contributed To Members Of Congress Who Did Not Support The Formation Of A January 6th Commission Or The Committee To Investigate January 6th. Send an email to Bank of America: 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. Investors are battling with corporate boards, filing shareholder resolutions that demand more transparency and accountability about political donations. Increasingly, theyre winning. Here are the companies suspending political contributions following the Contributions from this PAC to federal candidates ( list recipients) 42.99% to Democrats, 57.01% to Republicans. The FDIC, which is undertaking a "comprehensive review," will release policy recommendations by May 1. As Americans, we know that in our democracy we should not expect to agree on everything. 75. Only two House Republicans Liz Cheney of Wyoming and Adam Kinzinger of Illinois voted Wednesday to create a select committee to investigate the deadly January 6 attack on the US Capitol. RT=Real-Time, EOD=End of Day, PD=Previous Day. 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, 1/5/22], 147 Members Of Congress Objected To Certifying The 2020 Presidential Election. Chase Bank Shuts Down Prominent Conservatives | National Review Bank of America discloses an itemized list of the recipients and amounts of such contributions as required by law. , Texas, 2023 [] The legislation would make it significantly easier to vote, limit gerrymandering of congressional districts, require third-party groups to reveal secret donors and reform an election watchdog, among other changes. [The New York Times, 1/7/21], Bank Of America Corporations Most Recent Corporate Responsibility Disclosure (CSR, ESG, And Comparable Reports) Was Released For 2020. PDF What We Do Know - Citizen 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. 2016. For so many Americans, voting was a hard-fought right. Also, if you opt out of online behavioral advertising, you may still see ads when you sign in to your account, for example through Online Banking or MyMerrill. For American democracy to work for any of us, we must ensure the right to vote for all of us. [Select Committee to Investigate the January 6 Attack on the United States Capitol, Accessed 3/3/21], During The 2022 Election Cycle, Bank Of America Has Contributed At Least $2,000 To State Officials Who Voted For Anti-Voter Legislation. The Ten Companies Making The Biggest Political Donations - Yahoo News 169, MT S.B. This leads to the election of incompetent and perhaps corrupt or self-dealing governments. Senate Republicans blocked another voting rights bill Wednesday, as some on the left call to change the chambers rules to allow the Democratic Party to unilaterally change federal election law. Methodology overview. Observers say that the donations reflect bankers' interest in maintaining influence over the party in power. Facebook executives have played down the companys role in the Jan. 6 attack and have resisted calls, including from its own Oversight Board, for a comprehensive internal investigation. Figures on this page include contributions and spending by affiliates. Bank of America respects the rights of its employees to support issues and candidates of their choosing, and employees may elect to make personal political contributions, either directly or through company-sponsored or other political committees as permitted by applicable local, state, and federal laws, as well as the laws of any applicable jurisdiction outside of the United States. In light of those events, some companies are temporarily suspending any political action committee (PAC) donations to all lawmakers as they assess their policies. [The Hill. Looking at Dimon's political donations, they don't tell much of a story of a partisan bent, with marginal contributions in the 2020 election cycle to groups supporting Republicans in the Senate. Join us. [Time To Vote, Accessed. Before acting on any information in this material, you should consider whether it is suitable for your particular circumstances and, if necessary, seek professional advice. Bank of America forbids the use of its facilities, equipment, or other assets for political purposes without consent and to the extent prohibited by applicable law. 24 percent of the Republican lawmakers voted for an outside, partisan review of the 2020 election (often referred to as an audit). The Democratic bill, known as the Freedom to Vote Act, would make it easier to register to vote, make Election Day a public holiday, ensure states have early voting for federal elections and allow all voters to request mail-in ballots. [CNN. Bank of America Political Contributions Tracker | American Democracy However, our membership in and dues paid to specific trade associations or other organizations do not mean that we endorse every position or issue that these organizations or their members may support through lobbying or otherwise. Political Action Committee ("PAC") Contributions. How we help people, companies and institutions realize their financial goals. Only two House Republicans Liz Cheney of Wyoming and Adam Kinzinger of Illinois voted Wednesday to create a select committee to investigate the deadly January 6 attack on the US Capitol. Bank of America does not assume liability for any loss or damage resulting from anyone's reliance on the information provided. Other companies, including Bank of America, General Motors and FedEx, stopped short of suspending all campaign contributions, saying they will evaluate donations on a case-by-case basis. The American Bankers Association's Political Action Committee, is the largest PAC representing the banking industry and consistently one of the largest trade association PACs in the nation. [] Tensions were already running high when lawmakers gathered early Wednesday afternoon for the constitutionally mandated counting of the Electoral College results, in which Biden defeated Trump, 306-232. [AP, 1/6/21], Following The Violence At The Capitol On January 6, Four People In The Crowd Died. We consider these best practices, which we encourage more companies to adopt. [Business Roundtable. 643, AZ S.B. [Govtrack, 1/13/22], In January 2022, All Republican Members Of The Senate Voted To Block The Freedom To Vote: John R. Lewis Act. State legislatures hold a unique position in the countrys democratic apparatus, wielding a constitutionally mandated power to set the times, places and manner of holding elections. Cheered on by Mr. Trump as he eyes another run for the White House in 2024, many state legislators have shown they see that power as license to exert greater control over the outcome of elections. [The New York Times, 5/22/22], During The 2022 Election Cycle, Key Bank Of America Staff Have Made Large Contributions Totaling $95,820 To Anti-Democracy Federal Legislators. 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. View more on Money to Congress. BankPac operates in full compliance with the Federal Election Campaign Act (FECA) and the Bipartisan Campaign Reform Act (BCRA) and files monthly public . This website uses cookies to ensure you get the best experience on our website.View our privacy policy. As a pro-Trump protest turned into a violent attack on the Capitol on Jan. 6 last year, four people in the crowd died. [The New York Times. All Americans who qualify should be able to exercise this right free from unnecessary hurdles. [Business Roundtable. Bank of America PAC Contributions to Federal Candidates 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. A Bank of America spokesman said it will. More than a third of all restrictive voting laws enacted since then were passed this year. [Brennan Center for Justice. 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. In addition, companies should consider supporting employees by providing information on voter registration and alternatives such as voting by mail or early voting. San Francisco The vote was 49 to 51. This includes rigorous due diligence of any candidate at the state or federal level before a PAC contribution is considered and made.

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