Two of the largest U.S. banks and other companies have said they are interrupting or reviewing their donations from political action committee following the riots last week at the Capitol.
JPMorgan Chase & Co. and Citigroup Inc. said they would interrupt all PAC 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 to Republican lawmakers who opposed the election of President Joe Biden’s Electoral College after supporters of President Trump stormed the Capitol on Wednesday. .
The action follows a week in which businesses and their executives sought ways to ensure a peaceful transfer of power, and some have called for Mr. Trump is ousted by calling the 25th Amendment or Accusation. Others say they are holding back such actions because they are waiting for the inauguration of Mr. Pray on January 20th.
The announcements may reflect an acceleration of recent trends among large corporations to limit or better publicize political spending.
JPMorgan, the largest bank in the country, has decided to suspend the political donation for the next six months due to the growing political crisis following the violence at the Capitol, along with health and economic crises, said Peter Scher, head of corporate responsibility of JPMorgan, said an interview.