Newsroom

August 17, 2018

Moderate Dems seeing more campaign donations from banks

capitolWhile Republican candidates still lead in attracting campaign support from the banking industry, moderate Democratic lawmakers in this election cycle, such as those that helped create and pass the NAFCU-backed S. 2155, are drawing more support from the industry this year.

So far in 2018, Republican candidates have received about $14 million in campaign contributions from commercial banks while Democratic candidates have received about $7.1 million, according to the Center for Responsive Politics. Reporting on the data, a source told American Banker that while more Democratic lawmakers are up for reelection this year than Republicans, "the banking industry has done a much better job of looking at members more holistically and reviewing their activity and involvement on important issues."

This year, Senate Democrats have 26 seats up for reelection; Republicans, only nine. On the House side, Democrats need to win back just 24 seats to overtake the majority.

NAFCU continues to push lawmakers to pass more regulatory relief for credit unions so the industry can realize a healthy environment in which they can grow and thrive as part of its 2018 priorities.