TITLE

Commerce Suspends Contributions

AUTHOR(S)
Braun, Martin Z.
PUB. DATE
April 2003
SOURCE
Bond Buyer;4/30/2003, Vol. 344 Issue 31625, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Facing increasing scrutiny over political contributions, Commerce Bancorp Inc. chairman and president Vernon W. Hill 2d said the bank would suspend contributions in New Jersey from its political action committee while the state Legislature debates anti-pay-to-play legislation.Earlier in May 2003, the periodical 'The Bond Buyer' reported that as much as 48,000 dollars in political contributions by municipal finance professionals at Commerce Capital Markets, the South Jersey bank's broker-dealer, had been channeled from the bank's federal political action committee to the bank's state political action committee, with at least 26,000 dollars then donated to issuer officials.
ACCESSION #
9810708

 

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