Big banks got out of repaying scammed customers by giving cash to liberal voter turnout groups.
Radical leftist groups trying to turn out the vote for Hillary Clinton this year just got a big cash infusion thanks to the Obama administration.
After several large banks were found to have wrongly charged their customers, they initially agreed to repay their victims.
But Obama had other plans for that cash.
The Obama Justice Department let the big banks off the hook for defrauding customers — but only if they made massive payments to liberal political groups.
The Washington Examiner reports:
Bank of America was able to wipe about $225 million off its record $16.6 billion Justice Department mortgage fraud settlement by making donations to nonprofit and legal groups approved by the Obama administration.
But the bank only had to make $100 million in donations to do that, thanks to little-known provisions in the settlement, included at the Obama administration’s insistence.
Groups receiving the money include liberal organizations such as Hispanic civil rights group the National Council of La Raza ($1.5 million), the National Urban League ($1.1 million) and the Neighborhood Assistance Corporation of America ($750,000). Another $4.3 million went to the Local Initiatives Support Corporation, a nonprofit where former Clinton administration Treasury Secretary Robert Rubin is chairman.
And those groups are using that cash to subsidize efforts to elect Hillary Clinton.
They’re practically buying the election with cash meant for the victims of their misleading business practices.
“The nation’s largest Hispanic civil rights organization has launched a major voter-registration drive in the battleground state of Florida to identify and sign up hundreds of thousands of potential Hispanic voters. The Washington-based National Council of La Raza announced its plans Thursday morning at a news conference in Miami,” The Associated Press reported April 9.
“The nation’s largest Hispanic civil rights organization is launching a major voter registration drive in the battleground state of Florida that will include door-to-door canvassing and an online app designed to reach millions of potential voters. The Washington-based National Council of La Raza will hold a news conference Thursday morning in Miami to announce its plans,” FloridaPolitics.com reported April 7.
The $2.6 million in combined cash to the two groups freed up $2.6 million which could be transferred to their ‘Get Out The Vote’ efforts for Hillary Clinton.
No wonder liberals want so-called “campaign finance reform”. It would become illegal for conservatives to raise enough money to compete with the liberal’s government shakedown operations.