Fidelity blocks fund donations to SPLC after federal indictment
Summary
Fidelity has stopped allowing donations from donor-advised funds to the Southern Poverty Law Center (SPLC) after the Justice Department charged the group with bank and wire fraud. This move came as Fidelity learned about the federal investigation into the SPLC.Key Facts
- Fidelity is blocking donations to the SPLC from donor-advised funds.
- The Justice Department indicted the SPLC for alleged bank and wire fraud.
- Fidelity sent an email to donors explaining the reason for the block.
- The investigation by the government into the SPLC is ongoing.
- Donor-advised funds allow people to recommend where their charitable money goes.
- The SPLC is a well-known organization involved in civil rights work.
- Fidelity acts as a manager for many donor-advised funds.
- The indictment triggered Fidelity’s decision to restrict donations to the SPLC.
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