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Braun, Martin Z.
April 2003
Bond Buyer;4/8/2003, Vol. 344 Issue 31610, p1
Trade Publication
Since 1999, at least 48,000 dollars in federal campaign contributions made by municipal finance professionals at Philadelphia, Pennsylvania-based Commerce Capital Markets Inc. have been channeled to its parent bank's state political action committee. At least 26,000 dollars was then donated to issuer officials or local political parties, according to an analysis of federal and state campaign records. From 1999 through 2003, 39 current and former municipal finance professionals at Commerce, a division of South-Jersey based Commerce Bancorp, donated 191,450 dollars to Commerce Bancorp PAC-FED, while the fund received 77,790.95 dollars from non-municipal professionals and other sources. On three occasions, federal and state campaign records show, Commerce Bancorp PAC-FED loaned money to COMPAC, New Jersey and then, on the same day, COMPAC donated the same amount of money to issuer officials or state or local political committees.


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