According to CNBC, three largest US banks – JPMorgan Chase, Goldman Sachs and Citigroup – temporarily refused to donate their own funds and employees’ money to American politicians, regardless of their party affiliation.

This decision was made by financial organizations due to the storming of the Capitol building by supporters of the current President Trump, who did not recognize the results of the last elections in early January. The victory was won by the rival of the head of state, candidate of the Biden’s Democrats. Five people were killed in clashes with police.

This is about the so-called political action committees (PAC) – special non-profit funds which are exempt from taxation and aimed at funding of candidates for elections at various levels. Both commercial and non-commercial organizations have right to create PACs. Commercial organizations can accept contributions from their own employees.