Skip to Main Content

Bloomberg Quotes Trevor Potter: Payday Lender Political Donors Hidden in Corporate Names

March 22, 2012, Bloomberg
Excerpt taken from article.

Of all the names disclosed as donors to Restore Our Future, a political action committee supporting Mitt Romney, some stand out for how little they reveal.

RTTTA LLC of Provo, Utah, is one of four corporations created by auto-title and payday lenders who are subject to financial regulations in the Dodd-Frank financial overhaul law that Romney has vowed to repeal.

The other companies -- REBS Inc. of Las Vegas, Select Management Resources LLC of Alpharetta, Georgia, and Katsam LLC of Seattle -- were listed in Restore Our Future's Feb. 20 and March 20 campaign disclosure reports without revealing their founders' business interests. The four firms contributed $235,000 during the two months after President Barack Obama made the recess appointment of the Consumer Financial Protection Bureau director, which oversees the payday lenders, Federal Election Commission reports show. Select Management, which offers car title loans, spent $600,000 in 2010 to lobby on the Dodd-Frank legislation and consumer issues, Senate reports show.

"If that source of funding is hidden, voters are unable to judge who is giving to a candidate and what the candidate is agreeing to in return," said former FEC Chairman Trevor Potter, who is an advocate for limits on and disclosure of campaign donations.

To read the full article, click here.

About Caplin & Drysdale
Celebrating our 55th Anniversary in 2019, Caplin & Drysdale continues to be a leading provider of legal services to corporations, individuals, and nonprofits throughout the United States and around the world. We are also privileged to serve as legal advisors to accounting firms, financial institutions, law firms, and other professional services organizations.

The firm's reputation over the years has earned us the trust and respect of clients, industry peers, and government agencies. Moreover, clients rely on our broad knowledge of the law and our keen insights into their business concerns and personal interests. Our lawyers' strong tactical and problem-solving skills -- combined with substantial experience handling a variety of complex, high stakes, matters in a boutique environment -- make us one the nation's most distinctive law firms.

With offices in New York City and Washington, D.C., Caplin & Drysdale's core practice areas include:
For more information, please visit us at
Washington, DC Office:
One Thomas Circle NW
Suite 1100
Washington, DC 20005
New York, NY Office:
600 Lexington Avenue
21st Floor
New York, NY 10022


This communication does not provide legal advice, nor does it create an attorney-client relationship with you or any other reader. If you require legal guidance in any specific situation, you should engage a qualified lawyer for that purpose. Prior results do not guarantee a similar outcome.

Attorney Advertising
It is possible that under the laws, rules, or regulations of certain jurisdictions, this may be construed as an advertisement or solicitation.
©2020 Caplin & Drysdale, Chartered
All Rights Reserved.

Related Professionals

Related Practice Area(s)