WisDems: VIDEO RECAP: Sen. Brad Pfaff calls out Eric Hovde for conflicts of interest tied to ownership of Sunwest Bank
| Hovde refuses to cut financial ties to California bank if elected to the US Senate as the bank takes millions from foreign banks and governments |
MADISON, Wis. — This morning, State Senator Brad Pfaff called out Eric Hovde for being a walking conflict of interest. Senator Pfaff and Wisconsin Democrats hosted the call after Hovde announced that he would continue to own and profit from his $3 billion California bank if he is elected, meaning he would be able to influence banking policy to benefit himself and his bank, and even be able to direct taxpayer dollars to a bailout of his own bank.
The call also came after recent news reports revealed that Hovde’s bank is accepting millions of dollars in deposits from foreign banks and governments, which Hovde’s bank confirmed this week they are still doing.
Click here for a recording of the press call available for public use.
“Eric Hovde actually wants us to believe that he should not divest from the bank that he owns. He refuses to disclose how much money he’s making from that bank. And we all know that his bank is accepting money from foreign entities. All the while, if he is elected to the US Senate, he would be voting on banking policy that would directly impact his bottom line. That is bad government,” Senator Pfaff said. “That is a walking conflict of interest.”
State Senator Brad Pfaff
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