Commemorative Series No. 3 · The Fine Print
OUTSPENTNo. 46/74
Chuck
Hagel
U.S. Senate · R-NE
Taken from the card industry
$23,000
S.256 · the bankruptcy bill · 2005tap to flip ⤺
WHO THEY WORK FORNo. 46/74
Card-Issuing Banks$22,500
Credit Cards$500
Made it harder to clear credit-card debt in bankruptcy. Filings got ~38% costlier; insolvency didn't fall. · 109-1-44OUTSPENT
Card 46 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
$23,000
The industry spent on the bill
$100M+
on an eight-year industry push to pass the bankruptcy bill
Then, after office
Joined Deutsche Bank's advisory board and the board of Zurich Insurance.
Source: InvestmentNews, 2009
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.
Don't recognize a logo? Here's the key.
Card-Issuing Banks$22,500
Citigroup$16,500
Am. Bankers Assn.$5,000
Wells Fargo$1,000
Credit Cards$500
American Express$500