Former lobbyist Marvin Umholtz said credit unions shouldn't fearthe new Friends of Traditional Banking PAC, saying it has beenmislabeled as a Super PAC, and will function “more like a scalpelthan a battle axe.”
The new PAC will select one or two campaigns per election cyclein which it can influence the outcome, said Umholtz, president/CEOof Umholtz Strategic Planning & Consulting Services in Olympia,Wash.
It will either support or oppose a candidate, and rather thancollect money, it will direct individuals to have made pledges tothe PAC to write checks directly to the candidate'scampaign.
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