The views and opinions expressed in this commentary are solely those of the author. But Moynihan hedged when asked if he supports Biden's plan to boost the corporate tax rate to 28% (from 21%) to help pay for the federal government's $2 trillion stimulus package. I have high confidence that the powers of office will be able to shape people into being whats good for America. Yet corporations, including yours, are putting their own prices on carbon to guide decision making. All the foundations of the world have a couple trillion dollars in them or less. Over 300 companies, CEOs and other executives signed a statement printed in The New York Times to "defend the right to vote and oppose any discriminatory legislation," while Major League Baseball moved its All-Star Game from Atlanta to Denver. Your bank and other large companies are spending gigantic sums of money to get capital into underserved communities. Bank of America was named Worlds Best Bank by Euromoney magazine as well as Americas Most JUST Company by JUST Capital in 2022. The debate over same-sex marriage is a good case in point. Thats enabled those people to get funds from other people because people said if its good enough for Bank of America, well come in and help. 2020 Transaction Count/Amount. And if you look at the small private equity firms, even larger ones, there are two basic holes. Ultimately, if theyre facing a business challenge that they havent faced the past, who better educate them than their bank for 30 years, saying heres whats coming, heres how to think about it? However, that doesnt, Read More How Much Does It Cost to Attend a St. Louis Blues Game?Continue, Technology is an ever-changing world and if you dont keep up with it, you will quickly be left behind. The report also criticized the banks use of tax havens. Moynihan was put on the spot by billionaire investor Wilbur Ross at an annual fundraising dinner for the Japan Society in New York when he was asked about a possible Trump presidency. Travelers Aid Society Such an approach was behind the company's moves during the pandemic to offer paid childcare to parents balancing remote work and . Bank of America said it would begin reporting its financed emissions as soon as this year. Bank of America has not been involved in the preparation of the content supplied at the unaffiliated sites and does not guarantee or assume any responsibility for its content. POLITICO Q&A: Bank of America CEO Brian Moynihan Perhaps unsurprisingly, Moynihan went through some rather significant changes because of the Great Recession. The report also includes criticisms of Bank of America's use of tax havens. He later joined Bank of America (BoA) after it merged with FleetBoston Financial in 2004. Slideshow ( 2 images ) (Reuters) - Bank of America Corp Chairman and Chief Executive Officer Brian Moynihan on Wednesday played down the impact on the bank if Donald Trump is elected as the. When we say were net-zero, that effectively is an internal tax on our carbon usage. The opposite of the genius of the and is being the chairman of the or profits or, shareholders or. growing rift between corporate America and the GOP, dozens of other states working on their own measures, signed a statement printed in The New York Times, backed out of throwing the ceremonial first pitch, NCAA will not hold events in states that discriminate against trans students, MLB moves All-Star Game, draft out of Georgia after voting restrictions, Corporate taxes as a share of U.S. gross domestic product, denounced so-called religious freedom laws, his travel ban from Muslim-majority countries, White supremacist rally in Charlottesville, means his or her political leanings can filter into business decisions, companies are responsible to shareholders first and foremost, demonstrates that liberal executives tend to pay more attention, are less likely to reduce their workforce, are more likely to concede to activists' demands, increasingly say CEOs have a responsibility to speak out, signed a statement supporting voter rights. Republicans in states across the country cite alleged fraud in the 2020 election despite no evidence that any occurred as the impetus behind their push. So we said lets fix that. Copyright 2023 United Press International, Inc. All Rights Reserved. The push for more restrictive voter laws continues the battle over the election. 2023 The National Center for Public Policy Research, Conservative Shareholder Activists Present Proposals Addressing Abortion, DEI and Fossil Fuels, Horace Cooper: Kamala Harris Is the Most Incompetent Vice President Ever, Introducing the 2023 Corporate Incest Chart. That's right, the Wall Street banker who runs a firm . Brian Moynihan - Wikipedia He has seven siblings. He is also the Chairman of The Financial Services Forum as well as a member of The National Museum of African American History & Culture. Philip Murphy, Democrat of New Jersey, and Tammy Murphy Bill Nelson, NASA administrator, and Grace Nelson Anne. Simply saying were not going to hold X or Y in our portfolio does not mean X or Y doesnt keep going on. A recent study found that only about 18% of the more than 3,500 people who served as CEOs of companies in the Standard & Poors 1500 from 2000 to 2017 donated primarily to Democratic candidates, while 58% gave mostly to Republicans. The idea is to produce for all of them. Bank of America Shareholders Asked to Increase Accountability for 'Woke The issue is also the diversity of purchasing power. Bank of America also was named on Peoples Companies that Care list and is the top global bank on Fortunes Change the World list. And more recently, it has become even more critical for companies to consider public sentiment when deciding whether to take a stand on a hot-button issue. Brian Moynihan - Council for Inclusive Capitalism If you make metrics part of the official sector, then you can see whos making progress. More recent research also demonstrates that liberal executives tend to pay more attention to gender diversity inside their companies and are less likely to reduce their workforce when economic conditions deteriorate, consistent with the values that liberals prioritize.