WASHINGTON — House Financial Services Committee Ranking Member Barney Frank (D-Mass.) explained to credit union officials that, while money is important in elections, votes trump it every time.

"You are exhibit A of that argument…" he stated. "Your strength is in your members."

Frank said that as a liberal Democrat, people believe he must be anti-business, which he denied. "The private sector is the way we will build wealth in this country," he said, but first the wage gap needs to be reined in. Corporate profits as a percentage of the economy have risen while wages as a percentage have dropped, he said. "Not having this gap in wages is important both socially and economically," Frank emphasized.