Obama Bundler Eyes $300 Million Federal Payoff?
A one-sentence bill worth $300 million to a bank owned by a politically connected family that has doled out hundreds of thousands of dollars in campaign donations is about to get a big push forward.
Set to be approved by the House Financial Services Committee on Thursday,the legislation would help Emigrant Savings Bank of New York sidestep a costly mandate of the Dodd-Frank financial reform law. No other bank in the country would be affected.
Emigrant Bank is owned by billionaire Howard Milstein, a bundler for President Barack Obama’s 2008 campaign and a major Empire State political player.
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