CHARLOTTE, NC (AP) – A growing number of Wall Street banks and businesses have cut ties with President Donald Trump’s campaign and financial arms, as well as with the wider Republican Party, following last week’s riots and uprising in the Capitol .
Financial technology company Stripe has stopped processing payments for the Trump campaign, according to a person familiar with the case who has requested anonymity because the decision has not been made public.
The move would cut off Trump’s fundraising arm from what has been a steady stream of small dollar donations, often solicited through emails and text messages. Stripe’s decision was first reported by the Wall Street Journal.
American Express and JPMorgan Chase have said they would no longer donate to candidates who supported last week’s uprising or did not vote to confirm President-elect Joe Biden’s victory in the Electoral College.
“Last week’s attempts by some congressmen to undermine the results of the presidential election and disrupt the peaceful transfer of power are inconsistent with our (values),” American Express CEO Steve Squeri said in an email to the United States. Staff members.
Citigroup confirmed on Sunday that it is discontinuing all federal political donations for the first three months of the year.
In a memo to employees on Friday, Candi Wolff, Citi’s head of global government affairs, said, “We want you to be sure that we do not support candidates who do not respect the rule of law.”
Several tech companies have crushed President Trump, the GOP, and other forums that have been seen as avenues for violent extremism and insurgency. Twitter suspended Trump from its platform last week, as did Facebook. Social media company Parler was banned from both Apple’s App Store and Google’s Play Store, and Amazon cut Parler from its Amazon Web Services platform.