Bank Lobby Takes Aim to Unseat Remaining House Republican Who Backed Dodd-Frank

THE BANK LOBBY is making another attempt to unseat Rep. Walter Jones, R-N.C., the maverick House Republican who consistently supported greater oversight of the finance industry, and is the last remaining member of the GOP caucus to have voted in favor of the Dodd-Frank reform law.

The American Bankers Association, a lobby group for the banking industry, this week used a subsidiary called the Fund for Economic Growth to pour$50,000 into campaign advertisements in support of Taylor Griffin, a candidate seeking to unseat Jones in the Republican primary on June 7.

This is the second attempt by Griffin. In 2014, Griffin left a position with Hamilton Place Strategies, a consultancy that helps Wall Street firms with political strategy, to challenge Jones. Griffin’s bid was backed by a Super PAC funded by hedge-fund manager Paul Singer, as well as funds from many major corporate political action committees, particularly from big banks such as Wells Fargo and J.P. Morgan Chase.

Read on.

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