Citigroup, the third largest U.S. bank, is actively soliciting donations from its employees for its political action committee (PAC) or fundraising group. In a letter to staff obtained by Reuters, the bank stressed the importance of the upcoming presidential and Congressional elections, urging staff to give to Citi’s PAC. From the letter:
Our Government Affairs team already does a great job promoting our positions on important issues to lawmakers, but there is one thing that each of us can do to enhance their efforts: contribute to Citi’s Political Action Committee (PAC).
Citi PAC is one of the most effective tools we have to amplify the voice of the company in Washington and enhance our profile with lawmakers. The PAC provides the resources to help suport government officials who share our views on key policy objectives and who understand the impact various policy decisions may have on overall economic investment and growth.
Said a Citi spokesperson:
Citi PAC is funded by the voluntary, personal contributions of its employees. The PAC contributes to candidates on both sides of the aisle that support a strong private sector and promote entrepreneurship.
The firm, which was forced to alter its plans to raise dividend payments following weak results from the Federal Reserve’s bank stress tests earlier this month, is also offering some professional incentives for those employees who are willing to open their wallets.