When a House committee last week passed legislation to create a federal watchdog agency to oversee home loans and other consumer credit, Rep. Walt Minnick of Idaho was one of only two Democrats to vote against the beefed-up regulations sought by the White House.And there's this:
This year, political action committees with ties to the financial services industry are among Minnick's biggest givers. They include the Financial Services Roundtable, Goldman Sachs, the Securities Industry and Financial Markets Association, the Online Lenders Alliance and the Independent Community Bankers Association. In the most recent quarter, the American Express political action committee gave $1,500. Bank of America's PAC gave $4,000, and National Association of Realtors' political arm gave $1,000.Read the whole story, including Walt's explanation of his position.