SOURCE: Fifth Third Bancorp
DESCRIPTION:
Fifth Third is subject to government regulation and risks generated by new, complex and evolving legislative and regulatory requirements that impact nearly every aspect of our operations.
As a result, customers, employees and shareholders have a measurable stake in the outcome of certain public policy discussions. To mitigate this risk and work toward favorable outcomes, we participate in the public policy process. Our government affairs program is designed to give us a coordinated voice in public policy through a partnership between the Government Affairs team and Company leaders.
Fifth Third’s advocacy efforts are executed at the local, state and federal level by registered lobbyists. Disclosure of federal lobbying activity occurs via the U.S. Congress, and disclosure of non-federal lobbying activity is provided to appropriate local and state agencies as required by law.
Fifth Third’s Political Action Committee supports candidates at the federal, state and local level. Funds in the PAC consist of voluntary personal contributions from eligible officers of the Company and its subsidiaries. No Company funds are contributed to the PAC. Disclosure of PAC activity can be viewed at fec.gov and our website. Disclosure of PAC activity at the local and state levels is provided to state election authorities in compliance with applicable law.
Fifth Third’s political contributions are governed by the Government Affairs Policy. The Nominating and Corporate Governance Committee of the Board reviews political contributions semi-annually and approves the policy annually. Fifth Third also maintains a Political Activity Policy that ensures the compliance of the Bank and its employees with laws and regulations governing political contributions.
Read Fifth Third’s full 2020 ESG Report or visit the Bank’s ESG site.
KEYWORDS: NASDAQ:FITB, Fifth Third Bank, ESG
