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Vanguard is no friend to shareholders seeking more details on firms’ political spending

When shareholders of Camden, NJ-based American Water Works asked fellow investors to support a measure on corporate political spending accountability this year, Vanguard voted 'no.' So it went for similar resolutions put forth at annual meetings for Range Resources – one of the first companies to drill for natural gas in Pennsylvania's Marcellus Shale – and at more than a dozen other companies, including Ford, PayPal, and Equifax. Shareholders calling for political spending disclosure and oversight policies didn't get support from mutual fund behemoth Vanguard – which consistently voted against those resolutions when it came time to cast its proxy.

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