Investors are battling with corporate boards, filing shareholder resolutions that demand more transparency and accountability about political donations. It would take important steps to limit gerrymandering and make sure that politicians dont get to handpick their voters and entrench their power. 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, 11/30/21], Shareholders Of Publicly Traded Companies Planned To Call For Increased Disclosure Around Political Spending At Annual Shareholder Meetings. Gov. The Code influences how we do business as we continue to build a stronger, more streamlined and customer-focused company. Visa temporarily suspended all its political donations through its PAC as it reviews its candidate contribution guidelines, a spokesman said. 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. Bank of America welcomes the informed participation of its employees in governmental, regulatory, and elective processes. After obtaining additional information about the way in which NV S.B. When you visit these sites, you are agreeing to all of their terms of use, including their privacy and security policies. 1819, FL S.B. This listing may not include contributions made during the past several weeks. 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. 1, UT H.B. Contributions from the PAC program support candidates, parties, or committees whose views and actions are consistent with Bank of America's priorities and values. 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. The vote was 49 to 51. 643, AZ S.B. 1111, TX S.B. 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. 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. 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. 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. 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. American Express and Mastercard said they had. 398, KS H.B. Bank of America does not assume liability for any loss or damage resulting from anyone's reliance on the information provided. 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. 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. entertainment, news presenter | 4.8K views, 28 likes, 13 loves, 80 comments, 2 shares, Facebook Watch Videos from GBN Grenada Broadcasting Network: GBN News 28th April 2023 Anchor: Kenroy Baptiste. Sign up for our newsletter to track moneys influence on U.S. elections and public policy. 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. 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. 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. Percentage donated to . 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. 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 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. View more on Money to Congress. 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 final vote Friday was 54-35, but Republicans withheld the votes necessary to bring the bill up for debate. Political donations fall within the purview of the burgeoning environmental, social and governance investing movement, known as E.S.G. The final tally was 50 to 49 with GOP Sen. Lisa Murkowski of Alaska voting with Democrats in favor. [CNN. 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. Washington, 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. It allows you to accept political donations and contributions from supporters, and to make campaign purchases. Opening a campaign bank account is a first step in establishing a viable political campaign. The companies that hold themselves accountable to their stakeholders by increasing transparency will be more viable and valuable in the long term. [Deloitte. 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. Just six GOP senators joined with the Democrats, leaving the measure short of the 60 votes needed to proceed. [NPR. Methodology. This data includes Forms 3, 3P, and 3X. This includes rigorous due diligence of any candidate at the state or federal level before a PAC contribution is considered and made. [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. You are continuing to another website that Bank of America doesnt own or operate. 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. As understanding grows about the risk and value creation opportunities that ESG presents, the demand for ESG disclosure has accelerated. All Americans who qualify should be able to exercise this right free from unnecessary hurdles. [Business Roundtable. 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. When it comes to competitive advantages, Bank of America ( BAC 1.35%) has a huge one. 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.). For permission to reprint for commercial uses, Around the world, there are increasing concerns that fake news threatens democracy. 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. 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, 9/20/21], The Freedom To Vote Act Counters Long Lines And Related Discriminatory Practices by ensuring Lines Last No Longer Than 30 Minutes So That Individuals Subjected To Excessive Lines On Election Day Most Often Black And Latino Voters Are Protected From That Discrimination The Freedom to Vote Act [] 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, 9/20/21], During The 2022 Election Cycle, Bank Of America Does Not Appear To Have Contributed To The Members Of Congress Who Objected To Certifying The Results Of The 2020 Presidential Election. More than 440 bills with provisions that restrict voting access have been introduced in 49 states in the 2021 legislative sessions. How we help people, companies and institutions realize their financial goals. 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. [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. Our recent research supports this view democracy is less likely to survive in a poor informational environment. As Americans, we know that in our democracy we should not expect to agree on everything. [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.
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