News

Big banks hold off political funding post Capitol riot

The actions follow a week in which businesses and their chief executives have sought ways to ensure a peaceful transition of power

Two of the biggest US banks and other corporations said they are pausing or reviewing their political action committee donations in the wake of last week’s riot at the Capitol.

JPMorgan Chase and Citigroup said they are pausing all PAC donations to Republicans and Democrats in the coming months. Other companies, including the Blue Cross Blue Shield insurance group and Marriott International, said they would pause donations to Republican lawmakers who objected to President-elect Joe Biden’s Electoral College win after supporters of President Trump stormed the Capitol on 6 January.

WSJ Logo