Bank Associations Start Super PAC, Claiming ‘Congress Isn’t Afraid Of Bankers’

According to American Banker, a group of state level banking associations have formed a Super PAC — which can spend on political elections without limits — “that is designed to target the industry’s enemies and support its friends in Congress.” The bankers evidently feel that the financial industry, the single largest spender in the 2012 election to date, is not throwing enough money around in electoral politics. “Congress isn’t afraid of bankers,” said Oklahoma Bankers Association CEO Roger Beverage. “They don’t think we’ll do anything to kick them out of office. We are trying to change that perception.” The group is not working with national banking organizations because it intends to “piss some people off inside the Beltway.”