bank of america political contributions

[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. 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, 1/5/22], Following January 6, Several Corporations Suspended Donations To The 147 Lawmakers Who Objected To Certifying The Results Of The 2020 Presidential Election And Some Temporarily Paused Donations To Assess Their Political Giving Policies. 167, MT H.B. 84 and LA H.B. Our book shows that when voters are poorly informed, enough voters are more likely to make mistakes at the polls. A 501(c)(3) tax-exempt, charitable organization, 1100 13th Street, NW, Suite 800 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. Other companies, including Bank of America, FedEx and Wells Fargo, said they would review their corporate contribution strategy. [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. It would prevent voting laws that unevenly burden voters of color. Click on the arrows below to learn more about how Bank of America supports democratic ideals and details about their political spending. 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. 3920, TX S.B. Heres why this matters: Such outcomes at the polls lower public confidence in democracy and generate support for emergent anti-democratic forces. [Washington Post, 4/5/19], The Brookings Institution: One Of The Drivers Of Decreased Confidence In The Political System Has Been The Explosion Of Misinformation Deliberately Aimed At Disrupting The Democratic Process. [The Brookings Institution, 7/26/22], MIT Technology Review: How Facebook And Google Fund Global Misinformation. [MIT Technology Review, 11/20/21], The Washington Post: Facebook Groups Topped 10,000 Daily Attacks On Election Before Jan. 6, Analysis Shows. [The Washington Post, 1/4/22], NBC News: Tech Companies Struggle With The Human Side Of Fake News. [NBC News, 3/17/18], During The 2022 Election Cycle, Bank Of America Does Not Appear To Have Contributed To Members Of Congress Who Opposed Federal Voting Rights Legislation. [Accountable.US, Corporate Anti-Democracy Donations Database, accessed 7/12/22], All Republican Members Of The Senate Voted To Block The Freedom To Vote: John R. Lewis Act. Opening a campaign bank account is a first step in establishing a viable political campaign. After obtaining additional information about the way in which NV S.B. The Code, which is grounded in our company's values, provides basic guidelines of business practice, as well as professional and personal conduct, that all employees are expected to adopt and uphold. The bank said that its PAC will no longer support members of Congress who attempted to "subvert the presidential election results and disrupt the peaceful transition of power." Verizon The. Bank of America has not been involved in the preparation of the content supplied at the unaffiliated sites and does not guarantee or assume any responsibility for its content. , New York, San Antonio Bank of America maintains a robust government relations and political activity compliance program. Raising money and managing expenses is an critical part of the election process. 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. [The New York Times, 4/14/21]. When Bank of America makes payments to these organizations, including membership fees and dues, we restrict the organization from using the funds for any election-related activity at the federal, state, or local level, including contributions and expenditures (independent or otherwise) in support of, or opposition to, any candidate for any office, ballot initiative campaign, political party committee, or PAC. How we help people, companies and institutions realize their financial goals. 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. First Republic Bank reported that . Banking, credit card, automobile loans, mortgage . With more money being invested according to these principles, falling short in these areas by not being forthcoming about donations, or by waving away inconsistencies between statements and spending could lead investors to shun a stock or, as we have seen, organize public rebukes of directors. DC The balance between the parties fluctuates for many reasons in any given election. 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. With more money being invested according to these principles, falling short in these areas by not being forthcoming about donations, or by waving away inconsistencies between statements and spending could lead investors to shun a stock or, as we have seen, organize public rebukes of directors. Bank of America CEO Brian Moynihan addressed this very point at the 2016 Goldman Sachs U.S. Financial Services Conference last week: The real key is the floating rate parts [or our asset portfolio . A call for increased disclosure around political spending from elected officials and shareholders could come to a head this spring as a number of publicly-traded companies hold their annual general meetings. [Fortune. Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. 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. Around the world, there are increasing concerns that fake news threatens democracy. FleetBoston Financial, Did not previously hold government jobs: 27.59%, Did not previously hold government jobs: 24.14%. 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. So far this election, Bank of America's PAC has spent about $734,000, according to federal elections data, with much of that going to the Republicans and Democrats who sit on the congressional. 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. 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. Where permitted by applicable law, Bank of America underwrites the costs of administering the PAC program, but is prohibited from directly contributing to the PACs. Are Not a Condition to Any Banking Service or Activity. The companies that hold themselves accountable to their stakeholders by increasing transparency will be more viable and valuable in the long term. [Deloitte. 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 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. Relationship-based ads and online behavioral advertising help us do that. The National Infrastructure Campaign, Inc. American Bankers Association (and affiliate state bankers associations), International Swaps and Derivatives Association, National Business Coalition on E-Commerce & Privacy, National Association of Affordable Housing Lenders, Securities Industry and Financial Markets Association, U.S. Chamber of Commerce (and affiliate state chambers of commerce). Contributions take into consideration the whole candidate whether the candidate represents the communities we serve and supports policies and positions that are important to and/or impact our company, industry and our employees. [United States Senate, 11/3/21], November 2021: Senate Republicans, Except For Sen. Murkowski, Blocked The John Lewis Voting Rights Advancement Act With A 50-49 Procedural Vote On Whether To Open Debate On The Bill. [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. 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. Countering long lines and related discriminatory practices: The bill creates protections for individuals subjected to excessive lines on Election Day most often Black and Latino voters by requiring states to ensure that lines last no longer than 30 minutes and restricting states from prohibiting donations of food or water to voters waiting in line. [Brennan Center for Justice. 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. 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. 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. 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. The Code covers a range of issues from anti-bribery and anti-corruption to our risk framework and workplace safety. Campaign finance reform might be dead in Washington, but its making progress at the highest levels of corporate America. These charts include contributions to members' presidential committees. 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. 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. But the ProPublica-Post investigation, which analyzed millions of posts between Election Day and Jan. 6 and drew on internal company documents and interviews with former employees, provides the clearest evidence yet that Facebook played a critical role in the spread of false narratives that fomented the violence of Jan. 6. [The Washington Post, [Accountable.US, Corporate Anti-Democracy Donations Database, accessed. When you visit these sites, you are agreeing to all of their terms of use, including their privacy and security policies. Send an email to Bank of America: BankPac operates in full compliance with the Federal Election Campaign Act (FECA) and the Bipartisan Campaign Reform Act (BCRA) and files monthly public . 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. Progressive activists are calling on Ford, Target, Google, Bank of America and other major companies that have pledged to support voting rights to cut ties with the US Chamber of Commerce, CNN Business has learned. 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. 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. 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. 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 Senate was unable to move the For the People Act to the floor for a debate. 31, NV S.B. San Francisco 1, UT H.B. Contributions to this PAC from individual donors of $200 or more ( list donors) $556,750. Commerce Bank: Commerce Bank said it, too, is halting its PAC contributions to officials it says "have impeded the peaceful transfer of power." The bank donated a total of $49,750 to. 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. Statistics and metrics included in our ESG documents are estimates and may be based on assumptions or developing standards. 319, NH H.B. 84, NY S.B. [Accountable.US, Corporate Anti-Democracy Donations Database, accessed 7/12/22], The New York Times: 24 Percent Of Republican Lawmakers In Closely Contested Battleground States Voted For An Outside, Partisan Review Of The 2020 Election (Often Referred To As An Audit). For American democracy to work for any of us, we must ensure the right to vote for all of us. Percentage donated to . It is in this spirit that we encourage our employees to be active in our democratic society and provide them opportunities to do so through the PAC program, when legally permissible, and other voluntary activities benefiting their communities. As Americans, we know that in our democracy we should not expect to agree on everything. A growing list of companies are cutting off donations to politicians who opposed the Electoral College results, targeting the 147 Republican members of the House and the Senate who voted against affirming President-elect Joe Bidens victory. A beautifully American ideal, but a reality denied to many for much of this nations history. Employee contributions are not reimbursed by Bank of America. Together, we can have an even greater impact. 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. 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. See employment history for Bank of America lobbyists by clicking on their RevDoor icon here. While Brandtjens audit has stalled after Vos refused to sign subpoenas for counties election equipment, Vos investigation is moving forward, led by a former state Supreme Court justice who has expressed openness to MyPillow CEO Mike Lindells baseless claims of election fraud. [Forbes, 9/26/21], HEADLINE: Audit Idiocy And Peddling Of The Big Lie Persist In Pennsylvania, With Help From Lancaster County State Rep. Dave Zimmerman. [LancasterOnline, 9/5/21], Election Lies Have Provided The Foundation For New Laws That Make It Harder To Vote And Easier To Insert Partisanship In The Vote Count. 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. Terms of Use (QuoteMedia). Contributions from the PAC program support candidates, parties, or committees whose views and actions are consistent with Bank of America's priorities and values. Yesterdays inexcusable violence and chaos at the Capitol makes clear that elected officials perpetuation of the fiction of a fraudulent 2020 presidential election is not only reprehensible, but also a danger to our democracy, our society and our economy. Contributions from employees are used to support members of both political parties. Percentage donated to Republicans: 34.8%. This website uses cookies to ensure you get the best experience on our website.View our privacy policy. Unnecessary restrictions on the right to vote strike at the heart of representative government. 90, GA S.B. 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. Market Data powered by QuoteMedia. The reviews have been used to justify new voting laws and efforts to decertify the 2020 election. [The New York Times. 538, AR H.B. Here's how it works: We gather information about your online activities, such as the searches you conduct on our Sites and the pages you visit. 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. Are Not Insured by Any Governmental Agency. In April 2021, Bank Of America Corporation CEO Brian Moynihan Told CNNs Poppy Harlow The Right To Vote Should Be Distributed In The Broadest Sense And Anything That Goes Against That Shouldnt Be Tolerated. 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. To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review the Bank of America Online Privacy Notice and our Online Privacy FAQs. 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. Additionally, Bank of America employees are welcome to participate in political activities on their own time and in accordance with their individual desires and political preferences. Methodology. [] 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. It allows you to accept political donations and contributions from supporters, and to make campaign purchases. [Time To Vote, Accessed 3/22/22]. 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. These materials are for informational purposes only. The balance between the parties fluctuates for many reasons in any given election. 285, AL H.B. On January 13, the House passed the two bills, now combined into one, titled Freedom to Vote: John R. Lewis Act. Democrats used an unrelated NASA bill as a legislative vehicle to fast-track consideration of the measure in the Senate. 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. 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. Just six GOP senators joined with the Democrats, leaving the measure short of the 60 votes needed to proceed. [NPR. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). 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. Are Not FDIC Insured. you can opt out of online behavioral advertising, Democratic Legislative Campaign Committee, Republican Legislative Campaign Committee/Republican State Leadership Committee. Our book shows that when voters are poorly informed, enough voters are more likely to make mistakes at the polls. Consideration is given to entities that support policies and initiatives that are important to the Company. 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. 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. This statement sets forth basic principles concerning the company's stance on political contributions and activities. 1819, FL S.B. Contribution refunds; Contributions from political party committees and other political committees The Collaborative Multi-Racial Political Study reveals that a robust 57% of white Americans believes there was voter fraud in the 2020 presidential election, including 26% of whom believe there was definitely fraud in 2020. Total donations : $1,943,348. Open Secrets following the money in politics, NOTE: Organizations themselves cannot contribute to candidates and party committees, Cyber Incident Reporting for Critical Infrastructure Act of 2021, OpenSecrets Following the money in politics. A beautifully American ideal, but a reality denied to many for much of this nations history. Be the first to know when corporations take actions that affect their scores, and get other newsworthy updates. [Business For Voting Rights, Accessed 3/22/22], Bank Of America Corporation Signed On To The April 2021 New York Times Ad Of Corporations Claiming To Stand For Democracy And Against Restrictive Voting Bills. 2183, KS H.B. 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. The Freedom to Vote Act is historic legislation to strengthen American democracy, promote racial justice and equity for all Americans, and thwart the assault on voting rights taking place in the states.

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