The Mortgage Bankers Association, citing the "events" in the nation's capital last week, on Monday announced it will “pause disbursements” from its political action committee, MORPAC. A number of other businesses and PACs made similar decisions following what's been described as an insurrection sparked by comments made by President Trump.
The MBA said “elected officials have an obligation to protect our constitutional system of government.” In addition to the pause, the trade group said it will “undertake a careful review with our member leadership of our giving strategies for the 117th Congress,” which is the two-year session that started Jan. 3.
President Trump was not singled out for criticism by the trade group.
From the beginning of 2019 through Nov. 23, 2020, MORPAC raised $2.56 million, including more than $1.5 million in 2020, according to the Federal Election Commission. The PAC contributed roughly $2.3 million to House and Senate candidates and national party committees during the two-year span, according to the MBA.
Citing data from the FEC, the MBA noted that among trade associations, MORPAC ranked 13th in total dollars raised and 9th in total dollars contributed to federal candidates and committees.
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