CULAC Puts its Early Money on Republicans

WASHINGTON-The bulk of the largest political contributions from the Credit Union Legislative Action Council of CUNA went to Republicans during the month of May, still very early in the 2003-2004-election cycle. Representative Marsha Blackburn (R-Tenn.), a House Judiciary Committee member; House Financial Services Committee member Ed Royce (R-Calif.), father of the bill to exclude member business loans to faith-based organizations from credit unions’ 12.25% cap; House Financial Institutions and Consumer Credit Subcommittee Chairman Spencer Bachus (R-Ala.); Zach Wamp (R-Tenn.); and Texas special election winner Randy Neugebauer (R-Texas) each received $5,000 in campaign contributions from CULAC last month. CULAC also made $5,000 contributions to three Republican leadership political action committees for House Financial Services Committee Chairman Mike Oxley (Ohio), House Majority Leader Tom DeLay (Texas), and the National Republican Congressional Committee chairman, Congressman Tom Reynolds (N.Y.). On the other side of the aisle, Senator Chris Dodd (D-Conn.), Representative Barbara Lee (D-Calif.) of the Financial Services Committee, and House Financial Services Committee Ranking Member Barney Frank (D-Mass.) also received $5,000 from CULAC in May. Other large contributions went to freshman Financial Services Committee member Ginny Brown-Waite (R-Fla.) ($2,000); Ric Keller (R-Fla.) ($2,000) of the Judiciary Committee; regulatory relief legislation sponsor Shelley Moore Capito (R-W.V.) ($2,500); and freshman Small Business Committee member Jim Gerlach (R-Pa.) ($2,500). [email protected]