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July 7, 2022
In the week that the Supreme Court overturned Ro Vad, several of the country’s largest banks announced that they would provide financial support to workers traveling from states that prohibit abortion.
Bank of America, Citibank, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Wells Fargo all Confirmed They cover travel expenses for employees who want to have an abortion in June. Fidelity Investments said it had no plans to change its policy at first, but changed its course days later.
Nevertheless, many brokerage firms maintain public silence or refrain from making statements. They include Edward de Jones and the company, the country’s largest full-service broker with nearly 19,000 brokers, as well as Ameriprise Financial, Raymond James Financial and Stifel, Nicolaus & Co. There are ten regional organizations employed. Manage thousands of brokers and more than one trillion dollars in customer assets.
Texas-based discount broker Charles Showab Corporation has set up a mother, and UBS Wealth Management has been separated from its network of friends by UBS Wealth Management.
Many brokers recognize that sitting on the sidelines is a bit of a challenge. Brokers, especially in some small regional companies, tend to favor conservatives, and most of their organizations prefer to stay away from heated political debates, employers say.
“It’s a waste of resources,” says Mark Elzweig, of New York. “Everything they do hurts some of their employees and customers.”
Concerns about legal challenges and the response of some clients and staff continue. A recent study by the Pew Research Center found that although 61 percent of U.S. adults agree that abortion should be legal more often or more frequently, 37% say it should be “illegal”.
“My team’s feedback from consultants… ‘Why do you weigh it?’ Rick Rumaj, who is employed in Herndon, Virginia, said.
According to lawyers advising companies on their policies, many related legal issues have been raised.
“Many companies want to make a statement on this, but they want to be careful to avoid any illegal pitfalls,” said Sarah Rai, co-founder of McDemmer Will & Emery in Chicago. He added: “There is an open question as to what liability these companies will incur if they offer these reproductive health benefits in restricted states.”
Some companies are “doing more internal advertising” about policy changes because “at the moment, there doesn’t seem to be a zero-risk way to offer these reproductive health benefits in restricted states,” Revelation said.
Consistent with the ruling, Roné Raw, Brett Cavanaug, wrote that “in my view” no country can bar an abortion seeker from traveling. “The constitutional right to travel between states.”
But that was not enough, said Rey and another lawyer, according to a statement from U.S. Attorney General Merrick Garland.
One of the employers who announced his willingness to fund the trip to Jane Fraser, CEO of Citibank, cited a response from government lawmakers. In a letter dated March 18, deer park Republican Rep. Brisco Cain threatened to sue Fraser if the policy continued.
Although no new law has been passed in Texas, companies sponsoring the trip are concerned, said Roberta Casper Watson, a partner of the Wagner Legal Group in Boston.
A.D. The Texas Heartbeat Act, 2021, prohibits abortion after six weeks of pregnancy and allows private individuals to prosecute anyone (or any company) in civil proceedings. “It could be very good to be used in corporations,” Casper Watson said.
Despite legal concerns, some companies are easily opposed to abortion.
“There are people who are determined not to cover it up,” said Casper Watson.
Some brokerage firms have long-standing profiles that are kept secret from social norms.
Contributing to Schwab-affiliated staff in Westleigh, Texas, the opposite is true for Republican Senate nominees – $ 400,000 donated to their coffers by 2022;
By comparison, Maryland Lynch’s parent Boffie’s contribution to the Senate in 2022 is worth about $ 200,000 per sidewalk.
(Schwab as a company ceased its political contribution in January last year: “A clear and unambiguous position is in the best interest of our customers, our employees, our shareholders.”)
A Texas midwife sees abortion-travel disruption as an unhealthy event in her career.
“I’m not part of any conversations with customers or other consultants,” said Audrey Begai, a private equity consultant and management partner at Luminate in Houston and part of an independent channel at Ameriprise. About Abortion – Public Travel Policy.
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