“No, I don’t think I would sell the bank:” Hovde Admits He is a Walking Conflict of Interest

MADISON, Wis. — After a report from the Milwaukee Journal Sentinel found that California bank owner Eric Hovde had no plans to sell his $3.2 billion bank, Hovde admitted in a recent interview that he would keep owning his bank while in the Senate, saying, “No, I don’t think I would sell the bank,” while also saying he wants to be one of the leading banking policy voices on Capitol Hill.

What this means: 

• Hovde would be voting on banking regulatory policy, while continuing to own and profit from his bank.
• Hovde could even vote for a taxpayer-funded bailout of his bank.
• Hovde pushes for deregulation in the banking industry, which would dramatically grow the profits of his businesses and make him even richer.

NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.

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