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DNC Owes Union Bank $15M

Tuesday, October 23, 2012

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The Democratic National Committee (DNC) now owes $15 million to the union-owned Amalgamated Bank of New York, campaign finance records show.

The DNC received a $7 million loan from the bank in September, in addition to the $8 million loan it took out the previous month, neither of which has been paid back. The loans account for the majority of the committee’s $20 million in total debt.

The DNC paid Amalgamated Bank more than $18,000 in loan interest for the month of September, the records show.

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