Campaign Donors Change Course
October 13, 2011 2:23 PM
President Barack Obama
President Obama recently blasted Bank of America for announcing plans to charge customers a $5 monthly debit-card fee. Based on campaign contributions by large banks and their trade associations, the hostility is mutual.
The following data reflects contributions to federal candidates by bank employees and political action committees as of April 25, 2011. Source: Center for Responsive Politics. (Image: Bloomberg News)
The following data reflects contributions to federal candidates by bank employees and political action committees as of April 25, 2011. Source: Center for Responsive Politics. (Image: Bloomberg News)
Bank of America
Bank of America has given only about 35% of its contributions to Democrats so far in the 2012 election cycle. That's down from 62% in 2008.
B of A employees and political action committees are giving more than $2 to Mitt Romney for every $1 they’re giving to President Obama. (Image: Bloomberg News)
B of A employees and political action committees are giving more than $2 to Mitt Romney for every $1 they’re giving to President Obama. (Image: Bloomberg News)
JPMorgan Chase
JPMorgan Chase is also favoring Republicans. So far, 53% of its contributions have gone to Democrats, which is down from 67% during the 2008 election cycle.
Goldman Sachs
At Goldman Sachs, 76% of campaign contributions went to Democrats during the 2008 elections. So far in the 2012 cycle, Democrats have received only 38% of the Goldman money. (Image: Bloomberg News)
Citigroup
Citigroup favored Democrats over Republicans 68% to 32% during the 2008 election cycle. Democrats still hold an edge at Citi, but it's down to 58% for Democrats and 42% for Republicans for next year's elections. (Image: Bloomberg News)
Morgan Stanley
At Morgan Stanley, 2012 presidential contributions favor Romney over Obama by nearly 10-to-1. This at a bank where Democrats received 68% of 2008 contributions. (Image: Bloomberg News)
American Bankers Association
The American Bankers Association has long favored Republicans over Democrats. That gap has grown from a 57% to 43% GOP edge in 2008 to a 73% to 27% split so far in the 2012 election cycle. (Image: Bloomberg News)
