Schwab Affiliate Halts Customer Donations to Southern Poverty Law Center

The donor-advised fund affiliated with Charles Schwab, DAFgiving360, has suspended account holders’ ability to give money to the Southern Poverty Law Center, a civil rights group.

Last week, the Justice Department indicted the group and accused it of financial crimes. This week, the donor-advised funds that bear Fidelity’s and Vanguard’s names also cut the group off.

A spokeswoman for the Schwab-affiliated fund said, “If a governing body of a charity declares an investigation into a charity it oversees, DAFgiving360 may suspend grants to the organization.” She would not provide a list of other organizations that it has suspended.

Donor-advised funds allow individuals to create accounts, donate cash or securities into them and take a tax deduction for the full amount that year. Then they can parcel out donations to charities and other nonprofits over many years.

Article source: https://www.nytimes.com/2026/05/01/business/schwab-donations-southern-poverty-law-center.html