{"id":20582,"date":"2016-05-14T09:13:23","date_gmt":"2016-05-14T14:13:23","guid":{"rendered":"http:\/\/olduvai.ca\/?p=20582"},"modified":"2016-05-14T09:13:23","modified_gmt":"2016-05-14T14:13:23","slug":"bank-lobby-takes-aim-at-last-remaining-house-republican-who-backed-dodd-frank","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=20582","title":{"rendered":"Bank Lobby Takes Aim at Last Remaining House Republican Who Backed Dodd-Frank"},"content":{"rendered":"
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Bank Lobby Takes Aim at Last Remaining House Republican Who Backed Dodd-Frank<\/a><\/h3>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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THE BANK LOBBY\u00a0is making another attempt to unseat Rep. Walter Jones, R-N.C., the maverick House Republican who\u00a0consistently<\/a>\u00a0supported greater oversight of the finance industry, and is the\u00a0last<\/a>\u00a0remaining member of the GOP\u00a0caucus to have voted in favor of the Dodd-Frank reform law.<\/p>\n

The American Bankers Association, a lobby group for the banking industry, this week used a\u00a0subsidiary<\/a>\u00a0called the Fund for Economic Growth to pour\u00a0$50,000<\/a>into campaign advertisements in support of\u00a0Taylor Griffin<\/a>, a candidate seeking to unseat Jones in the Republican primary on June 7.<\/p>\n

This is the second attempt by Griffin. In 2014, Griffin\u00a0left a position with Hamilton Place Strategies, a consultancy that helps Wall Street firms with political strategy, to challenge Jones. Griffin\u2019s bid was\u00a0backed<\/a>\u00a0by a Super PAC funded by hedge-fund manager Paul Singer, as well as funds from many major corporate political action committees,\u00a0particularly<\/a>\u00a0from big banks such as Wells Fargo and J.P. Morgan Chase.<\/p>\n

Despite well-heeled support from the establishment, Griffin lost.<\/p>\n

Campaign finance records show that banks are again fueling his primary challenge this year. PACs controlled by J.P. Morgan Chase, Goldman Sachs, Bank of America and Wells Fargo have contributed to Griffin\u2019s campaign, according to Federal Election Commission disclosures. So, too, has the American Bankers Association\u2019s PAC, which provided the maximum donation of $5,000. Thanks to the\u00a0Citizens United<\/em>\u00a0Supreme Court decision, however, the ABA is allowed to exceed the traditional campaign donation limit by using a corporate subsidiary to spend $50,000 in support of Griffin\u2019s campaign as an independent expenditure.<\/p>\n

\u201cGriffin has the experience and expertise to advocate for pro-growth economic policies in Congress that will foster job creation,\u201d says Elizabeth Colt, a spokesperson for the American Banking Association\u2019s FEG. \u201cHe is a proven leader with principled values.\u201d<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bank Lobby Takes Aim at Last Remaining House Republican Who Backed Dodd-Frank THE BANK LOBBY\u00a0is making another attempt to unseat Rep. Walter Jones, R-N.C., the maverick House Republican who\u00a0consistently\u00a0supported greater oversight of the finance industry, and is the\u00a0last\u00a0remaining member of the GOP\u00a0caucus to have voted in favor of the Dodd-Frank reform law. The American Bankers […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[13800,13799,13797,1845,11587,5567,1796,860,13798],"class_list":["post-20582","post","type-post","status-publish","format-standard","hentry","category-economics","tag-aba","tag-american-bankers-association","tag-bank-lobby","tag-dodd-frank","tag-lee-fang","tag-the-intercept","tag-us-congress","tag-wall-street","tag-walter-jones"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/20582","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20582"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/20582\/revisions"}],"predecessor-version":[{"id":20583,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/20582\/revisions\/20583"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20582"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20582"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}