May Lose Value. 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. Bank of America Halts Political Action Committee Spending Decisions For 84 and LA H.B. As understanding grows about the risk and value creation opportunities that ESG presents, the demand for ESG disclosure has accelerated. These federal lobbying expenses are publicly disclosed on quarterly reports filed with the Clerk of the U.S. House of Representatives and Secretary of the U.S. Senate pursuant to the Lobbying Disclosure Act of 1995, as amended, and can be found here. At least 18 companies have donated or pledged to donate money to the BLM Global Network Foundation, according to a list compiled by the Washington-based Capital Research Center, which monitors. The final vote Friday was 54-35, but Republicans withheld the votes necessary to bring the bill up for debate. 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 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. As of the third quarter of this year, it had $439 billion worth of seemingly free money that it can (and. Insurance and annuity products are offered through Merrill Lynch Life Agency Inc. (MLLA), a licensed insurance agency and wholly-owned subsidiary of BofA Corp. Investment products offered through MLPF&S and insurance and annuity products offered through MLLA: "Bank of America" is the marketing name for the global banking and global markets business of Bank of America Corporation. [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. > Total contributions (2012-ongoing): $4,769,994 > Donations to Democratic Party: 29% > Donations to Republican Party: 71% > Spending on lobbying (2012-ongoing): $1,380,000 > Industry:. 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. Send an email to Bank of America: 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. Insurance Products are offered through Merrill Lynch Life Agency Inc. (MLLA) and/or Banc of America Insurance Services, Inc., both of which are licensed insurance agencies and wholly-owned subsidiaries of Bank of America Corporation. Visa temporarily suspended all its political donations through its PAC as it reviews its candidate contribution guidelines, a spokesman said. 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. We often voice our differing view on significant issues to such organizations directly or in other ways and continually evaluate the overall benefit of our continued memberships. Contributions from the PAC program support candidates, parties, or committees whose views and actions are consistent with Bank of America's priorities and values. The Bank of America Code of Conduct guides us in all that we do. Contributions to this PAC from individual donors of $200 or more ( list donors) $556,750. The final tally was 50 to 49 with GOP Sen. Lisa Murkowski of Alaska voting with Democrats in favor. [CNN. Contributions. Figures on this page include contributions and spending by affiliates. 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 . 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. 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. This website uses cookies to ensure you get the best experience on our website.View our privacy policy. Contributions by commercial banks to U.S. political parties in election cycle 2020 Published by Statista Research Department , Sep 30, 2022 This statistic illustrates the amount donated to. 1, UT H.B. Statistics and metrics included in our ESG documents are estimates and may be based on assumptions or developing standards. BankPac operates in full compliance with the Federal Election Campaign Act (FECA) and the Bipartisan Campaign Reform Act (BCRA) and files monthly public . 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. 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. 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. As Americans, we know that in our democracy we should not expect to agree on everything. 1111, TX S.B. Commercial Banks | OpenSecrets 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. Political Action Committee ("PAC") Contributions. 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. 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. Together, we can have an even greater impact. 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. Bank of America discloses an itemized list of the recipients and amounts of such contributions as required by law. The comments come just two days after more than 100 executives from major companies took out a full page ad in The New York Times defending the right to vote for all and opposing any discriminatory legislation that infringes on that right [CNN, No matter your zip code, race, ethnicity, color, who you vote for, what language you speak, or whether you are our customers, one thing is clear: we all value the right to vote, and believe that all eligible Americans should have free, fair, and safe access to this fundamental right. 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. . 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. 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. 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. The Code covers a range of issues from anti-bribery and anti-corruption to our risk framework and workplace safety. Essentially, Sanders was displeased that Bank of America didn't just pay no income tax but also received $1.9 billion in a tax refund for 2010 even though said corporation had made $4.4 billion in profit in that same year. Over the course of our nations history, the right to vote was hard fought for so many Americans, particularly women and people of color. 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. [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). After yet another mass shooting, the national debate over gun policy renews. PAC Profile: Bank of America OpenSecrets The Senate was unable to move the For the People Act to the floor for a debate. Employee contributions are not reimbursed by Bank of America. Are Not Deposits. 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. For permission to reprint for commercial uses, 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. The Companies Cutting Ties With Trump - The New York Times Are Not Insured by Any Governmental Agency. Here are the companies suspending political contributions following the 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. In addition, companies should consider supporting employees by providing information on voter registration and alternatives such as voting by mail or early voting. [Accountable.US, Corporate Anti-Democracy Donations Database, accessed 7/12/22], On May 19, 2021, 35 House Republicans Joined The Majority Of House Members In Voting For An Independent Commission To Investigate The January 6 Insurrection. 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. 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. 1. Follow the money on gun rights and gun control groups. 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. 90, GA S.B. The Public Policy Executive reports at least annually to the Corporate Governance, ESG, and Sustainability Committee, which is comprised solely of independent members of our Board of Directors, on significant policies and practices concerning political contributions, major lobbying priorities and principal trade association activities that relate to the company's public policy objectives. 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. Banks are sticking with Senate Republicans who tried to overturn election 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. Percentage donated to . Raising money and managing expenses is an critical part of the election process. [] Congress has the legal and constitutional power to ward off these attacks by passing the Freedom to Vote Act, which would set national standards to protect the freedom to vote, counter election sabotage, end partisan redistricting, and fix our broken campaign finance system. [Brennan Center for Justice. 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. 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. 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, 10/20/21], HEADLINE: Senate Republicans Block Democrats Voting And Elections Bill. [CNN, 10/20/21], The Freedom To Vote Act Followed The For The People Act, Incorporating Most Of The Critical Provisions From The For The People Act As Well As New, Much-Needed Safeguards Against Attempts To Undermine The Electoral Process. 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. 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. 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, 5/22/22], The New York Times: Election And Democracy Experts Say They See The Rise Of Anti-Democratic Impulses In Statehouses As A Clear, New Threat To The Health Of American Democracy. Election and democracy experts say they see the rise of anti-democratic impulses in statehouses as a clear, new threat to the health of American 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. 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], The Select Committee On January 6 Aims To Investigate The Attack At The Capitol On January 6, 2021. 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. 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 . 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. Fortune 500 Companies Giving the Most Money to Republicans - Insider Comcast yanks political contributions to Republican objectors, citing American Democracy Scorecard. you can opt out of online behavioral advertising, Democratic Legislative Campaign Committee, Republican Legislative Campaign Committee/Republican State Leadership Committee. It would take important steps to limit gerrymandering and make sure that politicians dont get to handpick their voters and entrench their power. Tell the CEO and other corporate leaders what you think about their commitment to democracy. 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. 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. 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. Financial Sector Donations to 2020 Presidential Candidates - Investopedia For additional information concerning Bank of America's political activities and related policies and procedures, contact Bank of America's Public Policy Department. 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.
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