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Demonstrators clash with police officers during a protest in Aurora, Colorado, on June 27. Photo: Andy Cross/MediaNews Group/The Denver Post via Getty Images

The Business Roundtable called on Congress in a statement Wednesday to pass a police reform bill before its August recess.

Why it matters: The announcement by Business Roundtable, made up of CEOs of America’s 193 largest companies, reflects the rising pressure on corporations — from values-centric employees, shareholders and customers — to take stands on controversial public issues they once would have avoided.

The big picture: The business group issued a list of recommendations as Republicans and Democrats compete over differing police reform bills.

  • It recommends that Congress invest in community policing programs and creates a national police misconduct registry to catalog officer disciplinary records, which it believes will promote public accountability.
  • It also backs establishing a minimum national standard on the use of lethal and non-lethal force, banning chokeholds and carotid holds — except when deadly force is warranted — and creating higher standards for the use of no-knock warrants.

What they're saying: “Corporate America cannot sit this one out,” AT&T CEO Randall Stephenson said in a statement. "CEOs are leaning forward and saying 'We have a problem.' You cannot watch the George Floyd video and say 'we don't have a problem.'"

  • "There's a national outcry for reform. With these policy recommendations as a starting point for possible bipartisan consensus, we call on all Members of Congress to act in urgency and get something done and signed into law before August."

Go deeper: The major police reforms that have been enacted since George Floyd's death

Go deeper

JPMorgan commits $30 billion to fight the racial wealth gap


Data: Fortune 500, Axios analysis of company statements, get the data; Chart: Andrew Witherspoon, Naema Ahmed/Axios

JPMorgan Chase announced Thursday a $30 billion investment over the next five years that the company says will address some of the largest drivers of the massive wealth gap between Black and white Americans.

  • The commitment makes the bank by far the largest monetary contributor to efforts by businesses to fight systemic inequality and racism in the U.S.

Beauty giant Coty Cosmetics looking to sell its own branded products

Coty Cosmetics CEO Sue Nabi. Photo: Axios on HBO

Coty Cosmetics CEO Sue Nabi tells Axios the beauty giant will “probably” introduce Coty-branded products one day.

Why it matters: Coty produces some of the world’s most popular fragrances, skin care products and color cosmetics on behalf of other well-known brands, but has shied away from producing its own branded products.

1 hour ago - Sports

NFL to end race-based testing in concussion settlements

Photo: Brett Carlsen/Getty Images

The National Football League on Wednesday reached an agreement with former players to end the controversial practice of race-based adjustments in dementia testing, AP reports.

Why it matters: The deal, which must still be approved by a judge, comes amid a broader discussion of racial inequities in health care.