Fidelity Won't Let Fund Holders Donate to Southern Poverty Law Center
nytimes.comIt's truly a sad reflection on the state of our government that when I read the DoJ's press release about these charges, all I could think is that the charges are probably not legitimate and are instead politically motivated. This administration has no credibility left whatsoever.
Then to see Fidelity take a political stand - well, given my terrible experiences with that company, I can't say I'm surprised.
I don’t see this as Fidelity taking a political stand, but a conservative risk management decision.
It's astonishing that the left is upset about the SPLC being indicted for funneling money to white supremacist groups.
what if it becomes clear that it was only to pay informants?
DAFs (U.S. tax law) were never meant to benefit charities, they are a way to give donors a tax break today by putting money in the hands of for-profit entities like Fidelity in exchange for a vague promise to maybe someday donate to an actual charity.
https://blog.charitywatch.org/the-dark-side-of-donor-advised...
I wonder if Fidelity is putting a similar restriction on those age 70 and above who wish to make a Qualified Charitable Distribution (QCD) from their Traditional IRA to Southern Poverty Law Center. This would be even worse, since it is not Fidelity's job to audit the charitable deductions made via QCDs.
I've seen situations where Fidelity won't let you OR your spouse access your retirement funds if your spouse ends up in legal trouble. I really wouldn't keep money you need to be able to access with them. My friend ended up in prison non-finance related and his wife didn't have access to their retirement account (luckily she had other income sources).
I guess Fidelity doesn't want to help fund hate groups. https://www.justice.gov/opa/pr/federal-grand-jury-charges-so...
They were paying confidential informants for tips they would use in investigations and pass to law enforcement. Not QUITE the same as being a hate group.
Sure, sure - that's why they went to lengths to ensure the money wasn't traceable back to them, right?
You mean like undercover cop trying real hard not to show his pay slip to mob members?
I'll point out that undercover cops are paid the same way as any other officer.
>I guess Fidelity doesn't want to help fund hate groups
Your "guess" is not the stated reason. FTA:
>“Consistent with our grant-making standards and practices, the organization is not an eligible grant recipient during the ongoing investigation.”
In fact, WRT Fidelity's actual disposition on funding hate groups, the SPLC reported in 2023 that their donor advised fund had been consistently used to that effect, including anti-LGBTQ, anti-government, anti-Muslim, and hard right groups.[0]
[0]https://www.splcenter.org/resources/hatewatch/extremist-cryp...
The Trump regime's campaign to radicalize as many people as possible continues unabated.