The candidates getting banks' cash: Top 5 in the House

August 15, 2018 11:21 AM

WASHINGTON — In the House, the five lawmakers seeking reelection who have received the most donations from commercial banks for the upcoming midterms are all Republicans.

These five lawmakers have received a total of just over $1 million for the 2018 election cycle from commercial banks, including from their political action committees and from individuals employed by a bank who gave $200 or more. Data is from the Center of Responsive Politics and is as of July 23. (Click here for top Senate recipients.)

They include senior House GOP leaders, contenders to head the Financial Services Committee and strong voices for regulatory relief.

Blaine Luetkemeyer, R-Mo.

U.S. Rep. Blaine Luetkemeyer's (R-Mo.) authored the Consumer Information Notification Requirement Act, or H.R. 6743, aimed at modernizing notification requirements for credit unions and other financial institutions implemented under the Gramm-Leach-Bliley Act.

Luetkemeyer, who has received $253,338, currently chairs the House subcommittee on financial institutions and consumer credit. He is seen as a likely contender to succeed outgoing House Financial Services Committee Chairman Jeb Hensarling, R-Texas, if Republicans hold onto their majority. If his track record is any indicator, the banking industry could expect Luetkemeyer to reach across the aisle to get Democrats on board with financial reform more than Hensarling has under his chairmanship.

Patrick McHenry, R-N.C.

Representative Patrick ÒPatÓ McHenry, a Republican from North Carolina, chairs a House Subcommittee on TARP, Financial Services and Bailouts of Public and Private Programs hearing in Washington, D.C., U.S., on Tuesday, Nov. 15, 2011. The hearing was entitled "How Roadblocks in Public Markets Prevent Job Creation on Main Street." Photographer: Andrew Harrer/Bloomberg *** Local Caption *** Patrick McHenry

Andrew Harrer/Bloomberg

McHenry, who has received $235,400, currently serves as the vice chairman of the House Financial Services Committee, but many expect him to join House leadership after filling in for Majority Whip Steve Scalise, R-La., while Scalise was recovering from injuries he sustained during the congressional baseball shooting last year. McHenry has focused on financial technology issues, including pushing for regulatory “sandboxes.”

Kevin McCarthy, R-Calif.

House Majority Leader Kevin McCarthy, a Republican from California, speaks during a news conference on Capitol Hill in Washington, D.C., U.S., on Tuesday, July 24, 2018. House Speaker Paul Ryan said Russian President Vladimir Putin won't be invited to speak at a joint meeting to Congress on a visit to the U.S., and what matters is the message Putin will get from Trump -- to stop meddling in U.S. elections and violating sovereignty. Photographer: Zach Gibson/Bloomberg

Zach Gibson/Bloomberg

McCarthy, who has received $179,800 from the industry, is currently the House majority leader. He is a contender to succeed Rep. Paul Ryan, R-Wis., as House speaker if Republicans can keep their hold on the chamber, which would mean he would ultimately determine what bills are able to move to the House floor for votes. McCarthy has also previously served on the House Financial Services Committee.

French Hill, R-Ark.

Representative French Hill, a Republican from Arkansas, left, speaks during a news conference on Capitol Hill in Washington, D.C., U.S., on Tuesday, July 24, 2018. Ryan said Russian President Vladimir Putin won't be invited to speak at a joint meeting to Congress on a visit to the U.S., and what matters is the message Putin will get from Trump -- to stop meddling in U.S. elections and violating sovereignty. Photographer: Zach Gibson/Bloomberg

Zach Gibson/Bloomberg

Hill, who has received $173,700 from commercial banks, has been endorsed by the American Bankers Association through television advertisements supporting his reelection campaign. He is an ex-banker and the House Financial Services Committee’s majority whip. Hill played a key role in the 2016 House passage of the Financial Choice Act, a reg relief package that was ultimately too sweeping to garner sufficient support in the Senate.

Andy Barr, R-Ky.

Representative Andy Barr, a Republican from Kentucky, speaks during a panel discussion at the Institute of International Finance (IIF) policy summit in Washington, D.C., U.S., on Thursday, April 19, 2018. The event provides an opportunity to hear leading policy experts, financial industry leaders, and senior U.S. administration officials discuss economic policy priorities and potential implications for the U.S. and global economies. Photographer: Toya Sarno Jordan/Bloomberg

Toya Sarno Jordan/Bloomberg

Barr, who has received $169,978 in contributions from commercial banks, heads the House subcommittee on monetary policy and has pushed for more congressional oversight of the Federal Reserve. While he has not yet indicated any interest in chairing the full Financial Services Committee, he will likely remain a steady voice on the committee pushing for more accountability at the Fed in interest rate decisions and rulemaking.