Bank Of America Corporation Is Not A Member Of The Civic Alliance. Tell the CEO and other corporate leaders what you think about their commitment to democracy. [] 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 business landscape today has been transformed by environmental and social concerns. . 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. Pfizer is one of the largest pharmaceutical companies in the world, and based in Groton, Connecticut. For American democracy to work for any of us, we must ensure the right to vote for all of us. The bill would require each state to ensure that individuals with disabilities have the same access to absentee ballots and applications as other voters, as well as making them electronically accessible to voters with disabilities, among other safeguards. [Brennan Center for Justice. PAC program contributions are made without regard to the private political preferences of the company's Executive Management Team or any other company executive. The John Lewis Voting Rights Advancement Act would modernize and restore preclearance. 2663, TX H.B. Washington, 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. 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. 167 Will Operate In Nevada And Louisiana, Respectively, [The Brennan Center Has] Removed The Two Laws From The List Of Restrictive Laws Passed In 2021. As of December 2021, the Brennan Center reported that 19 states passed 34 restrictive laws in 2021. First Republic Bank reported that . The U.S. Chamber of Commerce urged U.S. senators to reject a voting reform bill passed by the Democratic House and the powerful business lobby warned that it might highlight where they stand on the issue. 3920, TX S.B. Citigroup's contributions are evenly split for. It would prevent voting laws that unevenly burden voters of color. An individual who is under 18 years old may make contributions to candidates and political committees, subject to limitations, if: The decision to contribute is made knowingly and voluntarily by the minor; The funds, goods or services contributed are owned or controlled by the minor, proceeds from a trust for which he or she is a . 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. [Govtrack, Accessed 2/7/22], October 2021: Senate Republicans Blocked The Freedom To Vote Acts Passage. When it comes to competitive advantages, Bank of America ( BAC 1.35%) has a huge one. A Bank of America spokesman said it will. 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. In a vote of 50-50, it fell short of the 60 needed to overcome a GOP filibuster. Our PAC contributes to both parties and takes a lot of factors into account. [The New York Times, 1/7/21], In May 2021, Only 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. See employment history for Bank of America lobbyists by clicking on their RevDoor icon here. The balance between the parties fluctuates for many reasons in any given election. 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. 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. 1003, AZ S.B. 398, KS H.B. Raising money and managing expenses is an critical part of the election process. 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. 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. 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. 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. > 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:. 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. Our recent research supports this view democracy is less likely to survive in a poor informational environment. And while bankers are giving more overall to Republicans, as they did in 2016 and 2018, donations for 2020 congressional races appear to be spread more evenly between the parties. All Americans who qualify should be able to exercise this right free from unnecessary hurdles. [Business Roundtable, 7/21/20], Business Roundtable Released A Statement Calling The January 6 Capitol Attack Inexcusable Violence And Said That Elected Officials Perpetuation Of The Fiction Of A Fraudulent 2020 Presidential Election Is Not Only Reprehensible, But Also A Danger To Our Democracy. 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. Click on the arrows below to learn more about how Bank of America supports democratic ideals and details about their political spending. 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. Sign up for our newsletter to track moneys influence on U.S. elections and public policy. These charts include contributions to members' presidential committees. 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. 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. [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. 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. This listing may not include contributions made during the past several weeks. 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.). , Texas, 2023 [emailprotected] A beautifully American ideal, but a reality denied to many for much of this nations history. If you prefer that we not use this information, you can opt out of online behavioral advertising. Something has changed palpably in the publics and shareholders understanding, Ms. Alpern said. [The New York Times. 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. 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. To address this barrier and increase voter participation, a diverse coalition of companies came together in the summer of 2018 to launch Time To Vote. Our Code specifically covers how our employees may engage in the political process and how we interact with representatives of all levels of government on behalf of Bank of America. FleetBoston Financial, Did not previously hold government jobs: 27.59%, Did not previously hold government jobs: 24.14%. 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. [Govtrack, 1/13/22], In January 2022, All Republican Members Of The Senate Voted To Block The Freedom To Vote: John R. Lewis Act. In general, Bank of America employees may make personal contributions, within applicable legal limits, to political candidates, political parties, political action committees, and other entities that make political expenditures. [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. After yet another mass shooting, the national debate over gun policy renews. 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). [United States House of Representatives, 8/24/21], In October 2021, All Republican Members Of The Senate Voted To Block The Freedom To Vote Act. 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 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. 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. As of the third quarter of this year, it had $439 billion worth of seemingly free money that it can (and. Bank of America often shares interests with groups that advocate and shape public policy positions on issues that are important to our company, the financial services industry and the global business community. 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. shortcomings, which could dent a companys bottom line. [The New York Times, 6/5/21], Bank Of Americas Most Recent Public Political Spending Disclosure Was Released In 2020. 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. Both are indirect subsidiaries of Bank of America Corporation. 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. 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. 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. The researchers also looked at how CEO political preferences differ by geography, based on the. 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). Terms of Use (QuoteMedia). Contribution refunds; Contributions from political party committees and other political committees Except for the Revolving Door section, content on this site is licensed under a Creative Commons Attribution-Noncommercial-Share Alike 3.0 United States License by OpenSecrets.org. More than 440 bills with provisions that restrict voting access have been introduced in 49 states in the 2021 legislative sessions. The number of public companies that disclose or prohibit political spending hit a record this year and more corporations are assigning directors the responsibility of decision-making amid an era of hyper-partisanship. [Politico. 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. Percentage donated to Republicans: 34.8%. However, a review of campaign finance records . 21 out of 29 Bank of America lobbyists in 2021 have previously held government jobs. $659,500. We consider these best practices, which we encourage more companies to adopt. [Business Roundtable. Just six GOP senators joined with the Democrats, leaving the measure short of the 60 votes needed to proceed. [NPR. May Lose Value. All Americans who qualify should be able to exercise this right free from unnecessary hurdles. [Business Roundtable. This statement sets forth basic principles concerning the company's stance on political contributions and activities. 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. 1, UT H.B. 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. In each of those states, the election was conducted without any evidence of widespread fraud, leaving election officials from both parties in agreement on the victory of Joseph R. Biden Jr. [The New York Times. 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. This material does not take into account your particular investment objectives, financial situations or needs and is not intended as a recommendation, offer or solicitation for the purchase or sale of any security, financial instrument, or strategy. The final tally was 50 to 49 with GOP Sen. Lisa Murkowski of Alaska voting with Democrats in favor. [CNN. 643, AZ S.B. 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. 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. Contributions from this PAC to federal candidates ( list recipients) 42.99% to Democrats, 57.01% to Republicans. Increasingly, theyre winning. 84 And LA H.B. [Accountable.US, Corporate Anti-Democracy Donations Database, accessed 7/14/22], In January 2021, 147 Members Of Congress Objected To Certifying The 2020 Presidential Election. Banking, credit card, automobile loans, mortgage . 169, MT S.B. 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. Across the Atlantic, Bank of England Governor Andrew Bailey has said regulators are . 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. shortcomings, which could dent a companys bottom line. [The New York Times. 1819, FL S.B. [Govtrack, 1/19/22], Bank Of America Corporation Is A Member Of The United States Chamber Of Commerce. Send an email to Bank of America: 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. 574, LA H.B. The vote was 49 to 51. With the 2020 election season underway, Business Roundtable welcomes efforts by governors to address barriers to voting, including new challenges raised by the pandemic. i Campaign finance totals for the current election cycle were released by the FEC on March 20, 2023 and by the IRS on April 03, 2019, lobbying data was released by the Senate Office of Public Records on March 19, 2019, outside spending data was released by the FEC on May 01, 2023, and personal finances data was released by the House, Senate, and US Office of Government Ethics starting in June 2011. Bank of America maintains a robust government relations and political activity compliance program. As Americans, we know that in our democracy we should not expect to agree on everything. Bank of America has not reported any outside spending in the 2022 election cycle. 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. 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. 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. 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. More than a third of all restrictive voting laws enacted since then were passed this year. [Brennan Center for Justice. 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. Overall, roughly 57% of the CEOs were classified as Republicans, and about 19% as Democrats. It would take important steps to limit gerrymandering and make sure that politicians dont get to handpick their voters and entrench their power. Are Not Bank Guaranteed. A bank checking account serves several purposes. Bank of America and its affiliates do not make corporate contributions to candidates for public office or political parties, and do not use corporate funds to make independent political expenditures. 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 forbids the use of its facilities, equipment, or other assets for political purposes without consent and to the extent prohibited by applicable law. 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. Provisions are categorized as restrictive if they would make it harder for Americans to register, stay on the rolls, and/or vote as compared to existing state law. [Brennan Center for Justice. 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, 8/24/21], The Hill: The John Lewis Voting Rights Advancement Act Would Modernize And Restore Preclearance, Prevent Laws That Unevenly Burden Voters Of Color, Limit Gerrymandering, And Ensure Politicians Cant Handpick Their Voters And Entrench Their Power. The John Lewis Voting Rights Advancement Act would modernize and restore preclearance.

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