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.