$659,500. Washington, 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. 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 New York Times, 4/14/21]. 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 researchers also looked at how CEO political preferences differ by geography, based on the. 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. In addition, companies should consider supporting employees by providing information on voter registration and alternatives such as voting by mail or early voting. 84 and LA H.B. 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. Our recent research supports this view democracy is less likely to survive in a poor informational environment. Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. 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. 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 . 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. It also includes new, much-needed safeguards against attempts to undermine the electoral process. [Brennan Center, 10/14/21], Brennan Center For Justice: The Freedom To Vote Act Is Historic Legislation To Strengthen American Democracy, Promote Racial Justice And Equity For All Americans. 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. For permission to reprint for commercial uses, 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. [The New York Times. 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. 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. 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. 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. Facebook executives have played down the companys role in the Jan. 6 attack and have resisted calls, including from its own Oversight Board, for a comprehensive internal investigation. [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. 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. 413, IA S.F. Campaign finance reform might be dead in Washington, but its making progress at the highest levels of corporate America. 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. 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. Recent polls have Biden ahead of President Trump in key . Financial industry regulations and state or local laws prohibit employees of particular lines of business or employees with certain coverage responsibilities from making certain political contributions or engaging in certain political activities. [] 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. . 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. American Express and Mastercard said they had. Voting rights restoration: The bill restores federal voting rights to formerly incarcerated citizens upon their release, establishing a bright-line standard to replace the confusing patchwork of state laws and removing the vestiges of restrictions born out of Jim Crow. [Brennan Center for Justice. It would prevent voting laws that unevenly burden voters of color. [] 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. Campaign finance reform might be dead in Washington, but its making progress at the highest levels of corporate America. 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. 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. 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. 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. RT=Real-Time, EOD=End of Day, PD=Previous Day. Something has changed palpably in the publics and shareholders understanding, Ms. Alpern said. [The New York Times. [Time To Vote, Accessed 3/22/22]. These materials are for informational purposes only. 1, UT H.B. 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, 1/12/21], During The 2022 Election Cycle, Bank Of America Does Not Appear To Have Contributed To Members Of Congress Who Did Not Support The Formation Of A January 6th Commission Or The Committee To Investigate January 6th. Are Not Bank Guaranteed. This statement sets forth basic principles concerning the company's stance on political contributions and activities. But the ProPublica-Post investigation, which analyzed millions of posts between Election Day and Jan. 6 and drew on internal company documents and interviews with former employees, provides the clearest evidence yet that Facebook played a critical role in the spread of false narratives that fomented the violence of Jan. 6. [The Washington Post, [Accountable.US, Corporate Anti-Democracy Donations Database, accessed. 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. [] 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, 1/6/21], Following The Violence At The Capitol On January 6, Four People In The Crowd Died. 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. 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. This is why 250 companies and business organizations of all sizes and sectors from across the country have come together to urge Congress to introduce and pass the John Lewis Voting Rights Advancement Act, to make fair and safe access to voting real for all. Bank of America and Morgan Stanley have each so far this cycle donated more to Democrats than Republicans for the first time in over a decade. The right to vote should be distributed in the broadest sense and anything that goes against that shouldnt be tolerated, said CEO Brian Moynihan in an interview with CNNs Poppy Harlow on Friday. 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). A Bank of America spokesman said it will. 2663, TX H.B. [] 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. Our recent research supports this view democracy is less likely to survive in a poor informational environment. Many Business Roundtable member companies already provide paid time off either a full or partial day to employees for voting. [Govtrack, Accessed 2/7/22], The Freedom To Vote: John R. Lewis Act, A Combination Of The Freedom To Vote Act And The John Lewis Voting Rights Advancement Act, Failed In The Senate After It Was Tacked On To A NASA Bill That Required A Simple Majority To Proceed To Debate. The final vote Friday was 54-35, but Republicans withheld the votes necessary to bring the bill up for debate. 169, MT S.B. BankPac operates in full compliance with the Federal Election Campaign Act (FECA) and the Bipartisan Campaign Reform Act (BCRA) and files monthly public . Overall, roughly 57% of the CEOs were classified as Republicans, and about 19% as Democrats. As of December 2021, the Brennan Center reported that 19 states passed 34 restrictive laws in 2021. These ads are based on your specific account relationships with us. 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). 530, MT S.B. Raising money and managing expenses is an critical part of the election process. 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. 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. The right to vote should be distributed in the broadest sense and anything that goes against that shouldnt be tolerated, said CEO Brian Moynihan in an interview with CNNs Poppy Harlow on Friday. [CNN, 4/16/21], Bank Of America Corporation Has Not Joined The Business For Voting Rights Coalition. A beautifully American ideal, but a reality denied to many for much of this nations history. The BOA PAC has been one of the top 5 contributors among commercial banks to federal candidates every year for the past decade, giving a total of $12,595,165.3 From 2002-2010 the company contributed approximately $6.7 million in corporate funds to political activity.4 It also includes new, much-needed safeguards against attempts to undermine the electoral process. [Brennan Center. shortcomings, which could dent a companys bottom line. [The New York Times. Investors are on alert for companies that take one position and make donations that support another. [The New York Times, Time To Vote is a nonpartisan effort for companies that want to contribute to the culture shift needed to increase voter participation in our countrys elections. 1111, TX S.B. Copy Address. A 501(c)(3) tax-exempt, charitable organization, 1100 13th Street, NW, Suite 800 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. 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. Consideration is given to entities that support policies and initiatives that are important to the Company. As understanding grows about the risk and value creation opportunities that ESG presents, the demand for ESG disclosure has accelerated. For so many Americans, voting was a hard-fought right. Political donations fall within the purview of the burgeoning environmental, social and governance investing movement, known as E.S.G. When you visit these sites, you are agreeing to all of their terms of use, including their privacy and security policies. 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. , Texas, 2023 These charts include contributions to members' presidential committees. Are Not a Condition to Any Banking Service or Activity. The tally accounts for 44 percent of the Republican legislators in the nine states where the presidential race was most narrowly decided. When autocomplete results are available use up and down arrows to review and enter to select. For American democracy to work for any of us, we must ensure the right to vote for all of us. The John Lewis Voting Rights Advancement Act would modernize and restore preclearance. [United States House of Representatives, Accessed 3/8/22], All Republican Senators, Except For Sen. Lisa Murkowski, Voted To Block The John R. Lewis Voting Rights Advancement Act. May Lose Value. We consider these best practices, which we encourage more companies to adopt. [Business Roundtable. 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. 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. Unnecessary restrictions on the right to vote strike at the heart of representative government. 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. The final vote Friday was 54-35, but Republicans withheld the votes necessary to bring the bill up for debate. For American democracy to work for any of us, we must ensure the right to vote for all of us. Bank of America discloses an itemized list of the recipients and amounts of such contributions as required by law. 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].

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