Visa temporarily suspends all political donations

    (Reuters) – Visa Inc said Tuesday its political action committee temporarily suspended all donations last week as it reviews guidelines for candidate contributions.

    Many companies said they would cut campaign contributions to those who voted last week to challenge President-elect Joe Biden’s victory.

    “Visa does not tolerate the use of our network and our products for illegal activities. We are vigilant in our efforts to discourage illegal activity on our network and ask our affiliated banks to verify their merchants’ compliance with our standards, ”Visa said in an email.

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    The move comes after the assault on the US Capitol by supporters of US President Donald Trump.

    Reporting by Noor Zainab Hussain in Bengaluru; Editing by Bernard Orr

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