Tracking Corporate Political Donations has released a report alleging that 13 banks were part of spending (through their apparent membership in the American Bankers Association) $1 million on television ads to help Republican U.S. Senator David Perdue get re-elected, a candidate with a poor environmental record who attacked the results of a democratic election. The report highlights the alleged gap between the banks' stated commitments to the environment, democracy, and human rights and their financial support of Senator David Perdue.

The report raises three questions for members of the American Bankers Association:

• How can the U.S. banking industry spend $1 million supporting David Perdue’s campaign, while they proclaim their commitment to protecting the environment, combatting climate change, and respecting the rights of women, African-Americans and other ethnic minorities, and the LGBTQ community?
• How can U.S. banks proclaim their support for democratic values and the rule of law, then spend (through their American Bankers Association) $1 million supporting the campaign of a candidate who, without any evidence and contrary to court rulings and recounts, had already actively supported Trump’s false claim that there was fraud in the November 2020 election, and refused to recognize the democratic election of Joe Biden?
• How can U.S. banks say they are committed to diversity and inclusion, and to equality and justice for African-Americans and other ethnic minorities, then turn around and let their association spend a record amount to fund the Republican candidate in Georgia – recognizing that the Republican Party in Georgia is notorious for suppressing the voting rights of people of color?”

The Business & Human Rights Resource Centre invited the American Bankers Association and the banks named in the report to respond. Truist Financial Corporation responded (their response is below) and TD Bank previously responded to the author (their response is in the report). Bank of America, Bank of New York Mellon, Capital One, Citigroup, Goldman Sachs, HSBC Bank, JPMorgan Chase, Morgan Stanley, PNC Financial Services, U.S. Bancorp, Wells Fargo, and the American Bankers Association did not respond.