Election-reform advocates say the American Bankers Association and other organizations should take into account candidates’ commitment to democracy, not just their stances on issues, in directing donations.
Following similar decisions by big banks, the Consumer Bankers Association and Mortgage Bankers Association said they will halt all political contributions to elected officials as some lawmakers face harsh criticism for comments that incited the storming of the U.S. Capitol.
Several members of Congress challenging the result of the 2020 presidential contest received financial support from trade groups that could find themselves in hot water with some constituents.
Banking trade organizations are usually cautious about making endorsements. But with Democrats winning the White House and control of Congress on the line in the two races, some groups are pouring in cash for the GOP candidates.
