Commemorative Series No. 3 · The Fine Print
OUTSPENTNo. 08/74
John
Cornyn
U.S. Senate · R-TX
Taken from the card industry
$162,741
S.256 · the bankruptcy bill · 2005tap to flip ⤺
WHO THEY WORK FORNo. 08/74
Card-Issuing Banks$128,330
Credit Cards$34,411
Made it harder to clear credit-card debt in bankruptcy. Filings got ~38% costlier; insolvency didn't fall. · 109-1-44OUTSPENT
Card 8 of 74 · tap the card to see who they work for
Beyond the check
The check is only the part you can see.
They took
$162,741
The industry spent on the bill
$100M+
on an eight-year industry push to pass the bankruptcy bill
Through the leadership PAC
Beyond the campaign account, a leadership PAC under Cornyn's control (Alamo PAC and R Senate PAC) took $1,058,000 from banks, card lenders, drug makers and insurers.
Source: FEC; Alamo PAC and R Senate PAC
The industry figure is lobbying spent on the bill, not a payment to this senator. Source: contemporary reporting (NBER; PBS Frontline). Everything here is documented public record; nothing alleges an illegal act.
★ Hall of Shame
Cornyn voted with the money in more than one set:
Don't recognize a logo? Here's the key.
Card-Issuing Banks$128,330
Am. Bankers Assn.$39,000
JPMorgan$36,435
Wells Fargo$22,370
Bank of America$14,525
Am. Financial Services$11,000
Citigroup$5,000
Credit Cards$34,411
Visa$21,650
Consumer Bankers Assn$5,000
Discover$3,800
American Express$3,411
Capital One$550