WASHINGTON—Two major U.S. banks said they will resume campaign donations from their political-action committee, but split on the question about whether they would donate money to any of the 147 Republican lawmakers who voted to challenge the results of the 2020 election.
In a memo to employees Friday, Citigroup Inc. said it wouldn’t ban donations to those Republicans, but would only give money to candidates who supported a set of principles, such as protecting democratic institutions.
JPMorgan Chase & Co. told employees it wouldn’t give money in the 2021-22 election to the Republicans who challenged the election of President Joe Biden.
The announcements make Citigroup and JPMorgan two of the first large U.S. corporations to announce that they will resume political donations since halting contributions after the Jan. 6 assault on the U.S. Capitol by a pro-Trump mob.
Citigroup and JPMorgan were among the first companies to say they would halt donations after the Jan. 6 riot. Their decisions to resume political giving could prompt others to follow suit.