September 8, 2011
The PAC for Sen. Richard Shelby (R-AL) got significantly larger the day after the Wall Street Journal ran his op-ed blasting the new Consumer Financial Protection Bureau, according to Business Insider.
The news site reports that Goldman Sachs and the Boston-based investment firm MFS gave $5,000 and $1,500, respectively, to Shelby’s PAC, Defend America.
“Shelby has been particularly vehement in his opposition to the bureau, which he called ‘the most powerful yet unaccountable bureaucracy in the federal government’ in his July 21 opinion piece,” Business Insider reports. “Shelby has received $6.2 million in funding from real estate, finance, and insurance companies over the course of his career.”
Shelby and over 44 GOP lawmakers have refused to approve any nominee for CFPB director until the leadership structure of the agency is reorganized. Click here to read Shelby’s WSJ editorial.
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