NOVEMBER 7, 2014 // BOSTON, MA: Trillium Asset Management, LLC and Walden Asset Management have filed a shareholder proposal at American Express (NYSE: AXP) urging the company to improve its lobbying spending disclosures.
Currently, American Express does not disclose its payments to trade associations or the percentage they used for lobbying. While the company does disclose its non-deductible trade association payments for political contributions, it is not fully disclosing payments used for lobbying. This leaves a serious disclosure gap, as trade associations generally spend far more on lobbying than on political contributions.
We believe it is important that American Express’s lobbying positions, and processes to influence public policy, be transparent. While we hope the company will make the requested changes and avoid a shareholder vote, we encourage our fellow shareholders to support the proposal.