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1 Mär 2021

Christopher Avery, Tracking Corporate Political Donations

The gap between corporate declarations and reality: U.S. banking industry spent $1 million on television ads for Senator David Perdue

The following report raises concerns about U.S. banks spending (through their American Bankers Association - ABA) $1 million on television ads to try to help Republican U.S. Senator David Perdue get re-elected in the January 2021 runoff in Georgia. The banks often publicize their commitment to protecting the environment, combatting climate change, and respecting democracy and human rights. As the report documents, Perdue had a terrible environmental record, failed to accept that humans contribute to climate change, refused to accept and attacked the outcome of the November 2020 presidential election, and failed to respect internationally-recognized human rights.

... [T]he report emphasizes that no member bank of the ABA should be allowed to disclaim responsibility for the ABA’s $1 million of television ads for David Perdue. The ABA represents and speaks for those banks, the banks fund the association, and no bank went on record objecting to their association funding those ads. If major ABA member banks did not want their association to fund those ads for Perdue, the ABA would not have done so. Companies cannot be allowed to hide behind their industry association.

... [T]he report calls for close monitoring of all future political donations to U.S. candidates by banks, whether direct donations or through the American Bankers Association – as well as close monitoring of donations by all other companies and industry associations. When companies donate to candidates who undermine environmental protection and human rights, they should be held to account.