Trades Have Mixed Results in Primaries
Though the political action committees of CUNA and NAFCU backed the unsuccessful Senate candidacy of Rep. Mike Castle (R-Del.) the PACs had some successes yesterday as well.
Castle, a senior member of the Financial Services Committee and the only Republican to support the financial overhaul bill when it passed the panel, lost to marketing consultant Christine O'Donnell 53.1% to 46.9%.
CUNA's PAC gave Castle's campaign $10,000 and NAFCU's PAC gave Castle's campaign $2,000.
CUNA's PAC also gave $5,000 to Ovid Lamontaigne, the former chairman of St. Mary's Credit Union, who was trailing in the race for the GOP nomination for the U.S. Senate in New Hampshire. Former N.H. Attorney General Kelly Ayotte is leading 38.2% to 37.5% with 85.4% of the precincts reporting.
CUNA's PAC gave $10,000 to the reelection campaign of Rep. Carolyn Maloney (D-N.Y.) who won the primary for renomination 80.8% to 19.2% over lawyer and political newcomer Reshma Saujani. NAFCU's PAC gave Maloney's campaign $5,000.
Maloney is a senior Democrat on the Financial Services Committee, the author of the CARD Act that passed last year and a co-sponsor of the measure to raise the cap on member business loans.
CUNA's PAC also gave $2,500 to embattled Rep. Charles Rangel (D-NY) who won 50.5% of the vote in a five-candidate primary. Rangel is a senior member and former chairman of the House Ways and Means Committee, which has jurisdiction over credit unions' tax-exempt status. He has been charged by the House Ethics Committee with several violations of House rules.
The Maryland and D.C. Credit Union Association backed Washington D.C. City Council Chairman Vincent Gray, who defeated Mayor Adrian Fenty in that city's primary election. The association cited Gray's support for financial literacy education and his pledge to create a more pro-business environment in the city.