Two of the largest U.S. banks and other corporations said they are pausing or reviewing donations from their political action committee following last week’s riot at the Capitol.
JPMorgan Chase & Co. and Citigroup Inc. they said they will pause all CAP donations to Republicans and Democrats in the coming months. Other companies, including insurance group Blue Cross Blue Shield and Marriott International Inc., said they would halt donations to Republican lawmakers opposed to President-elect Joe Biden’s Electoral College victory after President’s supporters on Wednesday Trump stormed the Capitol.
The actions follow a week in which companies and their top executives have sought ways to ensure a peaceful transition of power, with some calling for Trump’s removal from office by invoking the 25th amendment or removal. Others say they are holding back on this action while they wait for Biden to take office on January 20th.
The announcements could reflect an acceleration of recent trends among large corporations to better limit or publicize political spending.
JPMorgan, the country’s largest bank, made the decision to stop political donation for the next six months due to the growing political crisis following the violence at the Capitol along with the economic and health crises, said Peter Scher, head of corporate responsibility at JPMorgan. an interview.