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. Tell the CEO and other corporate leaders what you think about their commitment to democracy. However, regardless of our political affiliations, we believe the very foundation of our electoral process rests upon the ability of each of us to cast our ballots for the candidates of our choice. 202, IA S.F. 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. Political Action Committees (PACs) have been in place for more than 40 years as a tool for companies to come together, pool voluntary contributions and engage in the political process. DC 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. We strive to provide you with information about products and services you might find interesting and useful. [] 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. 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). 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. 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. Bank of America Has One Advantage Over Other Banks That Dates - Insider Our book shows that when voters are poorly informed, enough voters are more likely to make mistakes at the polls. [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. Banking, credit card, automobile loans, mortgage . However, a review of campaign finance records . Just six GOP senators joined with the Democrats, leaving the measure short of the 60 votes needed to proceed. [NPR. As businesses who operate in and employ millions of people in all 50 states, we represent Americans of all political backgrounds who cast their votes on Election Day. Bank of America does not assume liability for any loss or damage resulting from anyone's reliance on the information provided. . Thirty-five House Republican broke ranks Wednesday evening to support legislation that would establish an independent commission to investigate the January 6 insurrection at the US Capitol. 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 . These 18 Corporations Gave Money to Radical Black Lives Matter Group 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. A 501(c)(3) tax-exempt, charitable organization, 1100 13th Street, NW, Suite 800 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. 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. 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. 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. 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. 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. [Govtrack, Accessed 2/7/22], Of The 212 Republican Members Of The House Of Representatives, 203 Voted To Block The Freedom To Vote: John R. Lewis Act, While Nine Did Not Vote. Around the world, there are increasing concerns that fake news threatens democracy. 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. 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. 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. The Ten Companies Making The Biggest Political Donations - Yahoo News In short, it would be the most significant federal expansion of voting rights in a generation. [The Hill, 9/3/21], All Republican Members Of The Senate Voted To Block The Freedom To Vote Act. Raising money and managing expenses is an critical part of the election process. Unnecessary restrictions on the right to vote strike at the heart of representative government. 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. 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. Financial Sector Donations to 2020 Presidential Candidates - Investopedia MLPF&S is a registered broker-dealer, registered investment adviser, Member SIPC and a wholly owned subsidiary of BofA Corp. Trust and fiduciary services are provided by Bank of America Private Bank, a division of Bank of America, N.A., Member FDIC, and a wholly-owned subsidiary of Bank of America Corporation (BofA Corp.). Just six GOP senators joined with the Democrats, leaving the measure short of the 60 votes needed to proceed. [NPR, 5/28/21], On June 30, 2021, Reps. Adam Kinzinger And Liz Cheney Were The Only House Republicans Who Voted To Create A Select Committee To Investigate January 6. Certain links may direct you away from Bank of America to an unaffiliated site. 2663, TX H.B. Sign up for our newsletter to track moneys influence on U.S. elections and public policy. 167, MT H.B. The final vote Friday was 54-35, but Republicans withheld the votes necessary to bring the bill up for debate. However, regardless of our political affiliations, we believe the very foundation of our electoral process rests upon the ability of each of us to cast our ballots for the candidates of our choice. 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. 196, MT S.B. Across the Atlantic, Bank of England Governor Andrew Bailey has said regulators are . The Reviews Have Been Used To Justify New Voting Laws And Efforts To Decertify The 2020 Election. 24 percent of the Republican lawmakers voted for an outside, partisan review of the 2020 election (often referred to as an audit). The balance between the parties fluctuates for many reasons in any given election. 2332, KY H.B. 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. 24 percent of the Republican lawmakers voted for an outside, partisan review of the 2020 election (often referred to as an audit). The Strategy and Public Policy Executive is responsible for the department's policies, activities and legal compliance with the advice of the Compliance Department and legal counsel. 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. Opinions or ideas expressed are not necessarily those of Bank of America nor do they reflect their views or endorsement. 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. , New York, San Antonio The insurance limit on your savings has become a hot global debate Contributions to this PAC from individual donors of $200 or more ( list donors) $556,750. As corporations freeze political donations, banks are continuing to do business as usual with campaign committees. [Business Roundtable, Accessed 3/22/22], The Business Roundtable Released A Statement Condemning Unnecessary Restrictions On The Right To Vote, Which It Said Strikes At The Heart Of Representative Government. As changes to voting laws are under consideration in multiple state legislatures, Business Roundtable today issued the following statement on principles that should guide policymakers: The right to vote is the essence of a democratic society, and the voice of every voter should be heard in fair elections that are conducted with integrity. Something has changed palpably in the publics and shareholders understanding, Ms. Alpern said. [The New York Times. We believe that we are better when we are connected to others as we work to bring about consensus and advocate for issues of importance to us and the clients and communities we serve. 1715, AR S.B. As understanding grows about the risk and value creation opportunities that ESG presents, the demand for ESG disclosure has accelerated. 84 and LA H.B. $659,500. [Bank of America, Accessed 3/22/22], Deloitte: Companies That Hold Themselves Accountable To Their Stakeholders By Increasing Transparency [Regarding Environmental And Social Concerns] Will Be More Viable And Valuable In The Long Term. The business landscape today has been transformed by environmental and social concerns. 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). 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. As of December 2021, the Brennan Center reported that 19 states passed 34 restrictive laws in 2021. Contributions. AL H.B. 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. The strength of our democracy depends on the integrity and fairness of our nations elections. 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. 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. 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, 6/5/21], The New York Times: Investors Are On Alert For Companies That Take One Position And Make Donations That Support Another. Investors are on alert for companies that take one position and make donations that support another. [The New York Times, 6/5/21], Bank Of America Corporation Is Represented By An Executive At Time To Vote. Massachusetts Competitive Partnership, Inc. PAC program contributions are made without regard to the private political preferences of the company's Executive Management Team or any other company executive. 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. Just six GOP senators joined with the Democrats, leaving the measure short of the 60 votes needed to proceed. [NPR, 5/28/21], In June 2021, Reps. Adam Kinzinger And Liz Cheney Were The Only House Republicans Who Voted To Create A Select Committee To Investigate January 6. Our Recent Research Supports This View Democracy Is Less Likely To Survive In A Poor Informational Environment. Around the world, there are increasing concerns that fake news threatens democracy. 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. 398, KS H.B. such as textbooks, contact OpenSecrets: info[at]crp.org. 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. [CNN, 4/16/21], Bank Of America Corporation Has Not Joined The Business For Voting Rights Coalition. 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. 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. Methodology. 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. 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 Bank of America Code of Conduct guides us in all that we do. After obtaining additional information about the way in which NV S.B. 1111, TX S.B. INSTITUTE INDEX: Bank of America's disconnect on racial inequality PAC Contributions from Bank Of America Corporation Pac (Fka Mbna These materials are for informational purposes only. 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. 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. Click on the arrows below to learn more about how Bank of America supports democratic ideals and details about their political spending. Campaign finance reform might be dead in Washington, but its making progress at the highest levels of corporate America. 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. [Govtrack, 1/13/22], In January 2022, All Republican Members Of The Senate Voted To Block The Freedom To Vote: John R. Lewis Act. After obtaining additional information about the way in which NV S.B. 523, NH S.B. 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.
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