bank of america political contributions

Our book shows that when voters are poorly informed, enough voters are more likely to make mistakes at the polls. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation ("Investment Banking Affiliates"), including, in the United States, BofA Securities, Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, and Merrill Lynch Professional Clearing Corp., all of which are registered broker-dealers and Members of SIPC, and, in other jurisdictions, by locally registered entities. Political donations by US CEOs show strong Republican leanings - Quartz Be the first to know when corporations take actions that affect their scores, and get other newsworthy updates. Capitol riot: JPMorgan, Goldman, other corporations pause political Observers say that the donations reflect bankers' interest in maintaining influence over the party in power. [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. 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. At issue is the Chamber of Commerces fierce opposition to the Democratssweeping voting bill known as the For the People Act,whichadvocates say would counter effortsby Georgia and other states to impose new voting restrictions. [CNN. Chase Bank Shuts Down Prominent Conservatives | National Review 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. 84, NY S.B. BofA Securities, Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Merrill Lynch Professional Clearing Corp. are registered as futures commission merchants with the CFTC and are members of the NFA. [The New York Times. Money raised includes each of the following:. Join us. [Time To Vote, Accessed. For additional information concerning Bank of America's political activities and related policies and procedures, contact Bank of America's Public Policy Department. San Francisco [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. As Americans, we know that in our democracy we should not expect to agree on everything. 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. It also includes new, much-needed safeguards against attempts to undermine the electoral process. [Brennan Center. 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. 167, MT H.B. 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. [United States Senate, 11/3/21], In January 2022, 203 Republican Members Of The House Of Representatives Voted To Block The Freedom To Vote: John R. Lewis Act, While Nine House Republicans Did Not Vote. 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. PAC Contributions from Bank Of America Corporation Pac (Fka Mbna Business Roundtable CEOs agree on the fundamental principle of supporting our employees in exercising their right to vote, by allowing flexibility and paid time off to vote that fits with their employment. 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. An MIT Technology Review investigation, based on expert interviews, data analyses, and documents that were not included in the Facebook Papers, has found that Facebook and Google are paying millions of ad dollars to bankroll clickbait actors, fueling the deterioration of information ecosystems around the world. [MIT Technology Review. The researchers also looked at how CEO political preferences differ by geography, based on the. 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. Terms of Use (QuoteMedia). A 501(c)(3) tax-exempt, charitable organization, 1100 13th Street, NW, Suite 800 For American democracy to work for any of us, we must ensure the right to vote for all of us. Here are the companies suspending political contributions following the 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. 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. There are also regulatory, litigation and insurance risks to E.S.G. The Ten Companies Making The Biggest Political Donations - Yahoo News 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. 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. Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as MLPF&S or Merrill) makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation (BofA Corp.). Market Data copyright 2023 QuoteMedia. JPMorgan and Goldman Sachs join U.S. corporations halting political donations after Capitol riot Published Sun, Jan 10 2021 6:44 PM EST Updated Wed, Jan 13 2021 10:43 AM EST Hugh Son @hugh_son Banks 'aren't out of the woods' after the collapse of SVB and - CNN Heres why this matters: Such outcomes at the polls lower public confidence in democracy and generate support for emergent anti-democratic forces. [Washington Post. Political Activities Archive :: Bank of America Corporation (BAC) Both are indirect subsidiaries of Bank of America Corporation. 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. 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. The new law will, in particular, curtail ballot access for voters in booming urban and suburban counties, home to many Democrats. 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. Market Data powered by QuoteMedia. Political Activities :: Bank of America Corporation (BAC) In the 2014 campaign cycle, people and political action committees associated with commercial banks gave more than $28.2 million to federal candidates, committees, parties and outside money groups that support them. Bank of America's political spending 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 This website uses cookies to ensure you get the best experience on our website.View our privacy policy. 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. 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. 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. The final vote Friday was 54-35, but Republicans withheld the votes necessary to bring the bill up for debate. It would take important steps to limit gerrymandering and make sure that politicians dont get to handpick their voters and entrench their power. 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. View more on Money to Congress. Its owner is solely responsible for the websites content, offerings and level of security, so please refer to the websites posted privacy policy and terms of use. 75. Unnecessary restrictions on the right to vote strike at the heart of representative government. Copy Address. See employment history for Bank of America lobbyists by clicking on their RevDoor icon here. Relationship-based ads and online behavioral advertising help us do that. 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. May Lose Value. [] Voting is a democratic principle that equally values the voice of every citizen. Are Not Bank Guaranteed. 1715, AR S.B. 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. 1. 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. 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. Recent polls have Biden ahead of President Trump in key . [Bank Of America, accessed 3/22/22], The Chamber Of Commerce Is A Political Donor, Having Given Millions To Political Candidates In Recent Elections. Contributions from employees are used to support members of both political parties. [The New York Times, 4/14/21]. 22 out of 29 Bank of America lobbyists in 2022 have previously held government jobs. President Biden won the state by just 11,779 votes out of nearly five million cast. 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. Send an email to Bank of America: 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. FleetBoston Financial, Did not previously hold government jobs: 27.59%, Did not previously hold government jobs: 24.14%. 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 . 398, KS H.B. 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. 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. 1485, AZ S.B. 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. 10 Things You Didn't Know about Bank of America CEO Brian Moynihan 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. Citigroup's contributions are evenly split for. 538, AR H.B. 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. 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. [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. The reviews have been used to justify new voting laws and efforts to decertify the 2020 election. [The New York Times. 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. The final vote Friday was 54-35, but Republicans withheld the votes necessary to bring the bill up for debate. As understanding grows about the risk and value creation opportunities that ESG presents, the demand for ESG disclosure has accelerated. After the collapse of SVB and Signature Bank, record levels of deposits poured into Bank of America, JPMorgan Chase and Citibank from mid-size and regional banks. 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. Our recent research supports this view democracy is less likely to survive in a poor informational environment. 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. 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. Bank of America PAC Contributions to Federal Candidates [] 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. 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. The Hidden Cost of Bank of America's Deposits | The Motley Fool We call on elected officials across the country to commit to bipartisan efforts to provide greater access to voting and encourage broad voter participation. [Business Roundtable. 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. 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. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). Bank of America welcomes the informed participation of its employees in governmental, regulatory, and elective processes. Calls for Bank of America boycott grow after data given to FBI BankPac operates in full compliance with the Federal Election Campaign Act (FECA) and the Bipartisan Campaign Reform Act (BCRA) and files monthly public . [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.

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