Entrepreneur

These Businesses and Institutions Are Cutting Ties With Trump


The online payment platform Stripe will no longer process payments for Mr. Trump’s campaign website, The Wall Street Journal reported on Sunday. The newspaper, citing people familiar with the matter, said the e-commerce company had cited violations of its user policy, which bars users from promoting violence on its platform.

Shopify, the company that powers e-commerce sites for more than one million merchants, said on Thursday that it had closed two online stores tied to Mr. Trump, including those run by the Trump Organization and the Trump campaign.

And several digital platforms — including Snapchat, YouTube, Twitch, Reddit and Twitter — also recently limited or suspended Mr. Trump on their services. The social app Parler, popular among conservatives as an alternative to Twitter, went dark Monday morning after Amazon cut it off from its computing services.

Four of the country’s largest banks, JPMorgan Chase, Goldman Sachs, Citigroup and Morgan Stanley, said they would temporarily stop sending donations from their political action committees. The banks have raised hundreds of thousands of dollars and donated to candidates of both parties.

JPMorgan Chase is halting donations to Republicans and Democrats through its PAC for six months. “There will be plenty of time for campaigning later,” said Peter Scher, the bank’s head of corporate responsibility.

Goldman Sachs is freezing donations through its PAC and will conduct “a thorough assessment of how people acted during this period,” a spokesman, Jake Siewert, told DealBook.

Citigroup is postponing all campaign contributions for a quarter. “We want you to be assured that we will not support candidates who do not respect the rule of law,” Candi Wolff, the bank’s head of government affairs, wrote in an internal memo.



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