Election Day marks the end of a political campaign. It also marks the beginning of fundraising for the next campaign.
Federal disclosure filings show that plenty of money was flowing through Washington immediately following Nov. 6. The most active political action committee in the weeks after the election belonged to the U.S. subsidiary of Swiss banking giant UBS AG. The company gave $122,000 in the three weeks following Election Day, the latest period for which information is available.
UBS has been ramping up its political giving in the past few years at the time that it has been sharply criticized, and even penalized, in Washington. UBS announced Wednesday that it has agreed to pay a $1.5 billion settlement with the U.S., British and Swiss governments for trying to manipulate a key interest rate used to price borrowing around the world.
The bank’s $122,000 in contributions from Nov. 7 through Nov. 26 are more than twice the $51,500 given by the second-most-active PAC, belonging to the Credit Union National Association. Other top PACs included those of Verizon, which gave $47,500, and General Electric, which gave $32,500.