WSJ News Special | Capital riots signaled the withdrawal of political funds to some large banks and companies

The two largest US banks and other corporations have said they are withholding or reviewing their Political Action Committee donations in the wake of last week’s riots in the capital.

JPMorgan Chase & Co. and Citigroup Inc. said they were blocking all PAC donations to Republicans and Democrats in the coming months. Other companies, including Blue Cross Blue Shield Insurance Group and Marriott International Inc., have said they will not run for president after President Trump supporters stormed the capital on Wednesday. Donations will be withheld for the makers.

The actions come a week after businesses and their chief executives sought ways to ensure a peaceful transfer of power, with some calling for a 25th Amendment or impeachment to remove Mr Trump. What was demanded? Others say they are waiting for Biden’s inauguration on January 20.

These announcements may reflect an increase in recent trends among large corporations to limit or better reflect political spending.

JPMorgan, the country’s largest bank, has decided to suspend political lending for the next six months due to health and economic crises, as well as the growing political crisis following violence in the capital Dari chief Peter Sher said. an interview.

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