DNC Secretly Hearts BoA

Wikimedia Commons

Wikimedia Commons

BY:

Despite Democrats’ intense antipathy and populist rhetoric against Bank of America, the big bank is the deposit box of choice for the upcoming Democratic National Convention.

The Charlotte Observer reports:

Democrats excoriated Bank of America last fall over a proposed $5 monthly debit card fee, with one even taking to the Senate floor to urge people to pull out their money.

But just a week and a half earlier, party leaders organizing the Democratic National Convention quietly deposited $17.7 million into the bank.

This year party leaders announced deposits totaling $4.5 million at two community banks and a credit union, touting their commitment to small and minority-owned lenders. Yet they’re doing much more business with Bank of America: The share of convention money passing without fanfare through the nation’s second-largest lender could reach $65 million.