Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wp-migrate-db domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /srv/app/gotoiba-dev/htdocs/web/wp-includes/functions.php on line 6121
Can a state-chartered bank make a political contribution to a candidate for local office? – IBA Compliance Connection

IBA Compliance Connection

Your go to source for compliance!

Can a state-chartered bank make a political contribution to a candidate for local office?

—

by

Yes, state banks may contribute to political candidates for state and local office, subject to the dollar amount limitations in the Illinois Election Code.

The Federal Election Campaign Act (“FECA”) prohibits corporations, including all banks, from contributing to federal candidates. The FECA also prohibits national banks from making contributions to state and local candidates. However, there are no federal or Illinois laws that prohibit a state bank from contributing to a state or local candidate, provided the contribution adheres to the dollar amount limitations in the Illinois Election Code. (Note that the state contribution limits differ based on the election cycle and the candidate’s specific political office.)

For resources related to our guidance, please see: