Wells Fargo & Co said its political action committee (PAC) will pause political contributions for the foreseeable future to review its strategy at the outset of the new Congress and the administration of President-elect Joe Biden.

"We will take into consideration the actions of elected officials who objected to the Electoral College vote and we urge members of all political parties to work together in a bipartisan fashion to help our nation heal", a spokeswoman said in an emailed statement.