Two of the largest US banks and other corporations have said they are taking a break or reviewing their donations to the political action committee following last week’s Chapter riots.
JPMorgan Chase & Co. and Citigroup Inc. they said they would cut off all CAP donations to Republicans and Democrats in the coming months. Other companies, including the Blue Cross Blue Shield insurance group and Marriott International Inc., have said they will suspend donations from Republican lawmakers who opposed the election of Joe Biden Electoral College after President Trump’s supporters stormed the chapter on Wednesday.
The actions come after a week in which businesses and their executives have sought ways to ensure a peaceful transition of power, with some demanding the removal of Mr. Trump from office by invoking the 25th Amendment or removal. Others say they are stopping such an action while waiting for Mr Biden’s inauguration on January 20th.
The announcements could reflect an acceleration of recent trends among large companies to better limit or disclose policy spending.
JPMorgan, the largest bank in the country, has decided to discontinue political donation for the next six months due to the growing political crisis following the Capitol violence, along with economic and health crises, said Peter Scher, head of corporate responsibility of JPMorgan in an interview.