Political risk


November’s US presidential elections are creeping closer, and the country’s banks are backing the Republicans. The American Bankers Association has contributed $1.4 million directly to the two parties, with over three-quarters of it going into the GOP’s coffers. Individual bank contributions are almost as partisan – and those are just the funds handed straight to the parties. Reliable figures on lobbying spend are harder to come by, but are estimated to be many times higher and even more skewed

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