DNC Secretly Hearts BoA

Wikimedia Commons

Wikimedia Commons


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.