Trades Continue Ramping Up for Elections
The lawmaker who circulated the "dear colleague," letter on interchange, has received contributions from the political action committees of CUNA and NAFCU during this campaign cycle.
Rep. Debbie Wasserman Schultz (D-Fla.), circulated a "dear colleague" letter urging House-Senate conferees to remove an amendment that would hurt credit unions and community banks from the financial overhaul bill.
Though the letter to the conferees didn't succeed in persuading them to remove the interchange provision, it did garner 131 signatures and was an opportunity for the credit unions to show their support on Capitol Hill.
CUNA's PAC the Credit Union Legislative Action Council (CULAC) has given her $2,500 this campaign cycle and $8,500 since 2005.
NAFCU's PAC, the National Association of Federal Credit Unions Political Action Committee, has given Wasserman Schultz $1,200 this cycle -including $1,000 in May--and $4,200 since 2005.
According to reports filed with the Federal Election Commission, CULAC raised $107,805 in May, bringing its total for the first five months of 2010 to $554,486. It contributed $98,600 to federal candidates and committees last month, bringing its total for this year to $604,500.
The PAC had almost $1.1 million in its coffers as of May 31.
CULAC is the 18th largest PAC contributor to federal candidates ($1.3 million in 2009 and 2010), according to the Center for Responsive Politics, a Washington-based research and advocacy group. The ABA's PAC is ranked sixth with $1.6 million.
NAFCU's PAC raised $13,260 in May, bringing its 2010 total to $49,569. It contributed $15,000 to federal candidates and committees last month, bringing its total for this year to $79,983.
The PAC had $245,417 in its account on May 31.