Rep. Jeb Hensarling (R-Texas) raised $615,000 in his first three months as House Financial Services Committee Chairman, with nearly one-third of that cash coming from political action committees (PACs) of the industries his committee oversees, according to Public Campaign analysis of reports filed with the Federal Election Commission.
Written by: Tam Doan, Research Director
Today, as the Senate banking committee considers the long-contested nomination of Richard Cordray to head the Consumer Financial Protection Bureau, Cordray will face eight senators who vowed recently to block his reappointment—or the appointment of anyone else to the post until the bureau has been weakened.
New York Gov. Andrew Cuomo spoke on a telephone town hall last night with about 1,350 grassroots activists, signaling his strong support for campaign finance reform, saying "Campaign finance is a way to tell the people of this state and this country: It's your government. You own it. Literally." The Governor called campaign finance reform “one of the most important issues to complete” in the rest of New York’s legislative session this year.
A month after pledging to block President Barack Obama’s appointment to lead a Wall Street watchdog agency, Senator John Cornyn (R-Texas) will hold a “Financial Services Dinner” fundraiser in Washington, D.C.
On Wednesday, President Barack Obama officially sent Richard Cordray’s nomination to lead the Consumer Financial Protection Bureau (CFPB) to the Senate, about a week after Senate Minority Leader Mitch McConnell (R-Ky.) and his colleagues pledged to block his appointment.
Senators Pledging to Block Wall Street Watchdog Have Received $143 Million in Financial Industry Cash
The 43 U.S. Senators who signed a letter to President Barack Obama pledging to block Richard Cordray’s re-appointment to the Consumer Financial Protection Bureau (CFPB) have received nearly $143 million in campaign contributions from the finance, insurance, and real estate sector—those who’d benefit the most from a weakened CFPB.
Hey everyone! A big thanks to Kurt for handling the clips while I was on sabbatatical. Now back at it:
Former NYC Mayor Ed Koch wrote in the Daily News this weekend that it's time to clean up Albany: "We have every reason to believe that replicating the city’s system of public financing at the state level will have precisely the same effect."
Campaign Finance/Fair Elections
The Nation: Change we can believe in, 2.0
Katrina vanden Heuvel on the president's talk of an amendment last week and its inclusion in the Democratic platform. National Journal.
In the ongoing voting wars in Ohio, the Franklin County GOP chair had this to say over the weekend: "I guess I really actually feel we shouldn’t contort the voting process to accommodate the urban — read African-American — voter-turnout machine. Let’s be fair and reasonable."
Last Wednesday, the Consumer Financial Protection Bureau (CFPB) announced its first enforcement action, requiring Capital One to refund $140 million to customers impacted by deceptive marketing practices and pay an additional $25 million penalty to the CFPB.