Charles Schwab leaves U.S. Chamber of Commerce as both change their political activities
PUBLISHED TUE, MAR 23 202112:28 PM EDT
Brian Schwartz
@SCHWARTZBCNBC
KEY POINTS
Charles Schwab has left the U.S. Chamber of Commerce, a move that comes as the firm and the lobbying group alter their respective political activities.
Charles Schwab said it would shut down its political action committee in the wake of the deadly Jan. 6 Capitol riot, citing extreme partisanship in politics.
Charles Schwab said its move did not have anything to do with the Chambers recent political actions. However, the firm hinted that the move was linked to its own decision to shut down its PAC.
Charles Schwab has left the U.S. Chamber of Commerce, a move that comes as the firm and the lobbying group alter their respective political activities.
Charles Schwab said it would shut down its political action committee in the wake of the deadly Jan. 6 Capitol riot, citing extreme partisanship in politics. The Chamber, which is typically seen as more GOP-friendly, backed several Democratic candidates for office in the last election cycle.
Charles Schwab said its move did not have anything to do with the Chambers recent political actions. However, the firm, whose millions of clients have trillions of dollars in assets, hinted that the move was linked to its own decision to shut down its PAC.
Our decision to terminate our membership with the Chamber is unrelated to their political activities. As you will have seen from our recent decision to discontinue our PAC, we have been reconsidering how we engage with policymakers, the company said.
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https://www.cnbc.com/2021/03/23/charles-schwab-leaves-us-chamber-of-commerce.html