You are here

Bank owned by US union gives lift to the left

Because it knows its donor world, Amalgamated is willing to advance cash on new contributions almost instantly

Amalgamated Bank president Keith Mestrich, in front of a collection of political buttons given to him as gifts, in Washington earlier this month. The bank has aggressively carved out a position as the left's private banker, leveraging deep connections with the Democratic establishment. It works directly with "caging" companies that process campaigns' direct-mail donations.

New York

WHEN Ready for Hillary, a pro-Hillary Rodham Clinton super PAC (political action committee), wanted to take out a million-dollar loan five months before it planned to go out of business, it turned to a bank that was founded to guard the savings of New York City garment workers.