These ads are based on your specific account relationships with us. 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, CEO is a member of the Business Roundtable, which has released pro-democracy statements in recent years, Released a statement opposing the events of January 6th, 2021, Published an annual corporate responsibility disclosure/report, Published a public political spending disclosure, Took a major action in support of voting rights or democracy, Has not enabled or allowed its platform to be used to share electoral mis/disinformation, Did not donate to federal lawmakers who opposed voting rights legislation during the 2022 election cycle, Did not donate to federal lawmakers who objected to certifying the 2020 presidential election, Did not donate to federal lawmakers who opposed creating a Congressional January 6th investigation, Donated to state officials who voted for anti-voter legislation during the 2022 election cycle, Did not donate to state officials who supported 2020 election audits, Key company staff made large donations to anti-democracy federal legislators during the 2022 election cycle, Is a member of the U.S. Chamber of Commerce, which opposed recent federal voting legislation. There are also regulatory, litigation and insurance risks to E.S.G. 31, NV S.B. This statement sets forth basic principles concerning the company's stance on political contributions and activities. The Public Policy Executive reports at least annually to the Corporate Governance, ESG, and Sustainability Committee, which is comprised solely of independent members of our Board of Directors, on significant policies and practices concerning political contributions, major lobbying priorities and principal trade association activities that relate to the company's public policy objectives. 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. Bank of America PAC Contributions to Federal Candidates Summary Candidate Recipients Donors Expenditures PAC/Party Contributions Select a cycle: 2020 $659,500 Total contributions from Bank of America PAC to federal candidates, 2019-2020 $283,500 (42.99%) To Democrats $376,000 (57.01%) To Republicans House Candidates, 2019-2020 i Republicans: 55.23% Contributions from employees are used to support members of both political parties. American Democracy Scorecard. With more money being invested according to these principles, falling short in these areas by not being forthcoming about donations, or by waving away inconsistencies between statements and spending could lead investors to shun a stock or, as we have seen, organize public rebukes of directors. More than a third of all restrictive voting laws enacted since then were passed this year. [Brennan Center for Justice. The companies that hold themselves accountable to their stakeholders by increasing transparency will be more viable and valuable in the long term. [Deloitte, 3/14/22], A March 2022 Deloitte Survey Found That Over Half Of Senior Executives Are Working To Establish An ESG Council Or Working Group In Place To Drive Strategic Attention To ESG Topics. Despite increased focus on ESG matters from stakeholders and the need to internally mobilize to create a robust ESG strategy and governance structure, less than a quarter (21% of survey respondents) currently have an ESG council or working group in place to drive strategic attention to ESG topics; however, more than half (57% of survey respondents) are actively working to establish one. In other fallout, the P.G.A. Contributions from employees are used to support members of both political parties. However in the next election cycle the PAC will review its decision making criteria in light of the actions that contributed to the appalling violent assault on the U.S. Capitol. [CNN, 2/5/21], On January 6, 2021, A Violent Mob Stormed The U.S. Capitol In Response To Congress Constitutionally Mandated Counting Of The Electoral College Results In A Stunning Attempt To Overturn Americas Presidential Election. A violent mob loyal to President Donald Trump stormed the U.S. Capitol on Wednesday and forced lawmakers into hiding, in a stunning attempt to overturn Americas presidential election, undercut the nations democracy and keep Democrat Joe Biden from replacing Trump in the White House. Our principal memberships in financial industry and certain other trade associations that receive more than $25,000 from Bank of America Corporation and its subsidiaries annually are listed below. We often voice our differing view on significant issues to such organizations directly or in other ways and continually evaluate the overall benefit of our continued memberships. Bank Of America Corporation Is Not A Member Of The Civic Alliance. The Senate failed to advance a sweeping voting rights bill Tuesday, stalling the Democratic legislation aimed at countering recent restrictive state measures pursued in Republican-led states. Besides trade groups such as the American Bankers Association, the industry includes financial institutions such as Quicken Loans, Bank of America, Wells Fargo and JPMorgan Chase. This data includes Forms 3, 3P, and 3X. However in the next election cycle the PAC will review its decision making criteria in light of the actions that contributed to the appalling violent assault on the U.S. Capitol. [CNN. Tell the CEO and other corporate leaders what you think about their commitment to democracy. 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. Increasingly, theyre winning. Bank of America's PAC is a fully voluntary program. 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. After obtaining additional information about the way in which NV S.B. Republican lawmakers attempted to challenge the results of Arizona and Pennsylvania, two swing states Biden won, during and after a violent and deadly attack on the U.S. Capitol by a pro-Trump mob. [The New York Times, 1/7/21], In May 2021, Only 35 House Republicans Joined The Majority Of House Members In Voting For An Independent Commission To Investigate The January 6 Insurrection. 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. [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. 1819, FL S.B. 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. Methodology overview. [Govtrack, 1/13/22], In January 2022, 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. Certain links may direct you away from Bank of America to an unaffiliated site. A bank checking account serves several purposes. Just six GOP senators joined with the Democrats, leaving the measure short of the 60 votes needed to proceed. [NPR, 5/28/21], In June 2021, Reps. Adam Kinzinger And Liz Cheney Were The Only House Republicans Who Voted To Create A Select Committee To Investigate January 6. 264, OK H.B. In short, it would be the most significant federal expansion of voting rights in a generation. [The Hill. 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, 8/24/21], The Hill: The John Lewis Voting Rights Advancement Act Would Modernize And Restore Preclearance, Prevent Laws That Unevenly Burden Voters Of Color, Limit Gerrymandering, And Ensure Politicians Cant Handpick Their Voters And Entrench Their Power. The John Lewis Voting Rights Advancement Act would modernize and restore preclearance. 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. The tally accounts for 44 percent of the Republican legislators in the nine states where the presidential race was most narrowly decided. 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. To request permission for commercial use, please contactus. [] Voting is a democratic principle that equally values the voice of every citizen. 167, MT H.B. For additional information concerning Bank of America's political activities and related policies and procedures, contact Bank of America's Public Policy Department. Were led by CEOs who are interested in increasing voter participation and represent the following companies. [Time To Vote, Accessed, One of the most common reasons people give for not voting is that theyre too busy with the demands of work and life. 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. 285, AL H.B. As of December 2021, the Brennan Center reported that 19 states passed 34 restrictive laws in 2021. 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. Terms of Use (QuoteMedia). At the same time, however, the likely political impact of a widespread banking crisis if First Republic Bank was simply allowed to fail could prove even more damaging to Americans generally and to . Are Not Insured by Any Governmental Agency. Voting is the lifeblood of our democracy and we call upon all Americans to join us in taking a nonpartisan stand for this most basic and fundamental right of all Americans. 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. As Americans, we know that in our democracy we should not expect to agree on everything. Employee contributions are not reimbursed by Bank of America. 21 out of 29 Bank of America lobbyists in 2021 have previously held government jobs. Statistics and metrics included in our ESG documents are estimates and may be based on assumptions or developing standards. Relationship-based ads and online behavioral advertising help us do that. AL H.B. 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. Both are indirect subsidiaries of Bank of America Corporation. Our PAC contributes to both parties and takes a lot of factors into account. For permission to reprint for commercial uses, 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. It also includes new, much-needed safeguards against attempts to undermine the electoral process. [Brennan Center. Open Secrets following the money in politics, NOTE: Organizations themselves cannot contribute to candidates and party committees, Cyber Incident Reporting for Critical Infrastructure Act of 2021, OpenSecrets Following the money in politics. [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. As understanding grows about the risk and value creation opportunities that ESG presents, the demand for ESG disclosure has accelerated. Based on the information reported to us by these organizations for 2021, the amount of our dues designated by the organizations as attributable to Bank of America Corporation and its subsidiaries for lobbying was approximately $2.5 million. Our book shows that when voters are poorly informed, enough voters are more likely to make mistakes at the polls. 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. 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. 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. Touch device users, explore by touch or with swipe gestures. [Civic Alliance, Accessed 6/6/22], The Civic Alliance Is A Nonpartisan Coalition Of Businesses That Seeks To Secure Voting Rights For All Americans. 643, AZ S.B. For American democracy to work for any of us, we must ensure the right to vote for all of us. 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. [] 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. Senate Republicans blocked the John Lewis Voting Rights Act from advancing on Wednesday when the Senate took a procedural vote on whether to open debate on the legislation. 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.