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Banks overwhelmingly support Romney

Published: January 15, 2012
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The country's biggest banks are overwhelmingly supporting Mitt Romney's bid for the Republican presidential nomination, an Observer analysis of federal campaign contributions shows.

Employees at the five largest U.S. banks by assets, including Bank of America Corp. and Wells Fargo & Co., gave Romney about $600,000 through the first three quarters of 2011, according to the most recent filings available from the Federal Election Commission.

The second-largest recipient of bank employee contributions, President Barack Obama, had far less, about $200,000, the analysis showed. The Republican presidential hopeful with the second-highest total, former Minnesota Gov. Tim Pawlenty, dropped out of the race in mid-August.

Romney received more from employees of those top five banks than all the other candidates combined, helping make the former Massachusetts governor the best-financed candidate in the Republican nomination battle, which is heating up in South Carolina ahead of Saturday's primary.

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