01.11.21 - JPMorgan Chase, Goldman Sachs and Citigroup were among the first major financial firms to say they put a hold on political donations after rioters laid siege to the U.S. Capitol last week.
JPMorgan, the biggest U.S. bank by assets, is pausing political action committee contributions for both Republicans and Democrats for at least the next six months, spokesman Steve O’Halloran said. The New York-based bank will use that time to consider changes to its political-donation strategies.
“The country is facing unprecedented health, economic and political crises,” said JPMorgan’s head of corporate responsibility Peter Scher. “The focus of business leaders, political leaders, civic leaders right now should be on governing and getting help to those who desperately need it most right now. There will be plenty of time for campaigning later.”
Efforts by some companies to pause PAC donations to all lawmakers — those who voted to uphold the election as well as those who sought to overturn it — are raising eyebrows. And companies can still give to “dark money” groups that don’t disclose their donors but often raise far more money than corporate PACs.
Source: Wall Street Journal
