PAC Contribution Data, 2019-2020. 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. [United States Senate, 11/3/21], November 2021: Senate Republicans, Except For Sen. Murkowski, Blocked The John Lewis Voting Rights Advancement Act With A 50-49 Procedural Vote On Whether To Open Debate On The Bill. 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. Minors. New Deloitte survey of 300 senior finance, legal and sustainability leaders shows companies are working toward more reliable and timely data, with investments in technology, controls design and implementation resources, and a robust, integrated strategy to meet the growing expectation for high quality ESG reporting information. [Deloitte. 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 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 For Voting Rights, Accessed 3/22/22], Bank Of America Corporation Signed On To The April 2021 New York Times Ad Of Corporations Claiming To Stand For Democracy And Against Restrictive Voting Bills. Join us. [Time To Vote, Accessed. DC After obtaining additional information about the way in which NV S.B. 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. Additionally, Bank of America may occasionally make contributions to groups organized under Section 501(c)(4) of the Internal Revenue Code, including but not limited to ballot measure committees and other social welfare organizations, but does not do so to support the election of any specific candidate or for the purpose of funding specific expenditures or communications. How we help people, companies and institutions realize their financial goals. Contributions from the PAC program support candidates, parties, or committees whose views and actions are consistent with Bank of America's priorities and values. [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. Recent polls have Biden ahead of President Trump in key . As Americans, we know that in our democracy we should not expect to agree on everything. $659,500. The companies that hold themselves accountable to their stakeholders by increasing transparency will be more viable and valuable in the long term. [Deloitte. With the 2020 election season underway, Business Roundtable welcomes efforts by governors to address barriers to voting, including new challenges raised by the pandemic. Let your friends and followers know how Bank of America is performing in supporting our democracy, and encourage them to take action. Visa temporarily suspended all its political donations through its PAC as it reviews its candidate contribution guidelines, a spokesman said. American Democracy Scorecard. 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. This listing may not include contributions made during the past several weeks. Contributions from employees are used to support members of both political parties. 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. This information may be used to deliver advertising on our Sites and offline (for example, by phone, email and direct mail) that's customized to meet specific interests you may have. [Govtrack, 1/19/22], Bank Of America Corporation Is A Member Of The United States Chamber Of Commerce. 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. 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. Just six GOP senators joined with the Democrats, leaving the measure short of the 60 votes needed to proceed. [NPR. Big business may very well be enabling America's very own version of the Chinese social-credit system in which political dissent is flagged, shunned, punished, and eradicated. Something has changed palpably in the publics and shareholders understanding, Ms. Alpern said. [The New York Times. 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. More than a third of all restrictive voting laws enacted since then were passed this year. [Brennan Center for Justice. After obtaining additional information about the way in which NV S.B. This survey also reveals that racial and ethnic minorities are highly susceptible to misinformation regarding voter fraud, as 38% of Latinos and 30% of African Americans think there might have been at least some fraud in 2020. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). It would prevent voting laws that unevenly burden voters of color. 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. 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. 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. 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. Additionally, Bank of America employees are welcome to participate in political activities on their own time and in accordance with their individual desires and political preferences. 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. FleetBoston Financial, Did not previously hold government jobs: 27.59%, Did not previously hold government jobs: 24.14%. 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. 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. 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. 2183, KS H.B. The final vote Friday was 54-35, but Republicans withheld the votes necessary to bring the bill up for debate. 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. It would take important steps to limit gerrymandering and make sure that politicians dont get to handpick their voters and entrench their power. [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. 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. 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. Are Not a Condition to Any Banking Service or Activity. 196, MT 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. In a vote of 50-50, it fell short of the 60 needed to overcome a GOP filibuster. 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, 4/13/21], The Chamber Of Commerce Opposed The For The People Act, Making It A Key Vote, Saying It Would Consider Including Votes Related To This Bill In Our Annual How They Voted Scorecard. 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, 4/13/21]. 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. 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. 1485, AZ S.B. Are Not FDIC Insured. of America said it would no longer . 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, 5/12/21], 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. Investors are battling with corporate boards, filing shareholder resolutions that demand more transparency and accountability about political donations. 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. 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. 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. 1111, TX S.B. 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. 22 out of 29 Bank of America lobbyists in 2022 have previously held government jobs. 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.). The final vote Friday was 54-35, but Republicans withheld the votes necessary to bring the bill up for debate. 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. 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). Additionally, payments to 527 organizations may not be transferred to any federal, state, or local PAC, any other form of political committee, or any other entity for the purpose of making contributions or expenditures, independent or otherwise, to support or oppose any candidates for U.S. federal, state, or local office, or to support or oppose any ballot initiatives. Top Affiliates: 84 and LA 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. [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. As Americans, we know that in our democracy we should not expect to agree on everything. 2332, KY 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. 1003, AZ S.B. 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. 176, MT H.B. 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. 285, AL H.B. 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. 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. Business Roundtable members believe state laws must safeguard and guarantee the right to vote. [Business Roundtable. The firms that are temporarily halting or rethinking how they donate money to politicians via PACs, or political action committees, are some of the most prominent platforms for financial advisers. Because the freedom to vote is everyones business. [Business For Voting Rights, Accessed. [Select Committee to Investigate the January 6 Attack on the United States Capitol, Accessed 3/3/21], During The 2022 Election Cycle, Bank Of America Has Contributed At Least $2,000 To State Officials Who Voted For Anti-Voter Legislation. The final tally was 50 to 49 with GOP Sen. Lisa Murkowski of Alaska voting with Democrats in favor. [CNN. Bank of Americas PAC is a fully voluntary program. 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. BankPac operates in full compliance with the Federal Election Campaign Act (FECA) and the Bipartisan Campaign Reform Act (BCRA) and files monthly public . Together, we can have an even greater impact. First Republic Bank reported that . [Time To Vote, Accessed 3/22/22]. 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. 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). More than 440 bills with provisions that restrict voting access have been introduced in 49 states in the 2021 legislative sessions. [Govtrack, Accessed 2/7/22], October 2021: Senate Republicans Blocked The Freedom To Vote Acts Passage. For so many Americans, voting was a hard-fought right. The researchers also looked at how CEO political preferences differ by geography, based on the. shortcomings, which could dent a companys bottom line. [The New York Times. When you visit these sites, you are agreeing to all of their terms of use, including their privacy and security policies. Massachusetts Competitive Partnership, Inc. The bill now moves to the Senate where it faces an uncertain fate as GOP resistance is growing. [CNN, 5/19/21], On May 28, 2021, Senate Republicans Filibustered Bipartisan legislation to establish an independent commission to investigate the Jan. 6 attack on the U.S. Capitol. 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. Increasingly, theyre winning. [Civic Alliance, Accessed 6/6/22], The Civic Alliance Is A Nonpartisan Coalition Of Businesses That Seeks To Secure Voting Rights For All Americans. 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.). The Code covers a range of issues from anti-bribery and anti-corruption to our risk framework and workplace safety. Protections for individuals with disabilities: The bill would address some of the biggest challenges to voting access that Americans with disabilities face. Contributions to this PAC from individual donors of $200 or more ( list donors) $556,750. Click on the arrows below to learn more about how Bank of America supports democratic ideals and details about their political spending. So far this election, Bank of America's PAC has spent about $734,000, according to federal elections data, with much of that going to the Republicans and Democrats who sit on the congressional. The vote was 49 to 51. 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. [Bank Of America, Accessed 3/22/22], The Number Of Public Companies That Disclose Or Prohibit Political Spending Hit A Record In 2021. The companies made a commitment to ensure that their employees had a work schedule that allowed them time to vote in that years midterm elections. [Time To Vote, Accessed, This movement is a non-partisan effort that demonstrates the power of what the business community can achieve when it works to address the most significant issues of our time. 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. [] 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. Touch device users, explore by touch or with swipe gestures. Furthermore, in a 2021 survey by Howard University Digital Informers, a slim majority (51.5%) of respondents believe that Black Americans are targets of fake news. [The Brookings Institution. 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. 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. Opinions or ideas expressed are not necessarily those of Bank of America nor do they reflect their views or endorsement. There are also regulatory, litigation and insurance risks to E.S.G. Bank of America does not assume liability for any loss or damage resulting from anyone's reliance on the information provided. 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. [] 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. A Bank of America spokesman said it will. 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. In April 2021, Bank Of America Corporation CEO Brian Moynihan Told CNNs Poppy Harlow The Right To Vote Should Be Distributed In The Broadest Sense And Anything That Goes Against That Shouldnt Be Tolerated. 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. 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. This website uses cookies to ensure you get the best experience on our website.View our privacy policy. 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.
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