Magazine article American Banker

Second Panel Subpoenas Ludwig in Probe of Party Fund-Raising

Magazine article American Banker

Second Panel Subpoenas Ludwig in Probe of Party Fund-Raising

Article excerpt

Comptroller of the Currency Eugene A. Ludwig has come under the scrutiny of a second congressional investigation into alleged campaign finance abuses.

The Senate Governmental Affairs Committee subpoenaed Mr. Ludwig on Feb. 14, seeking information about a White House coffee gathering with President Clinton and 17 bankers that was organized by Democratic Party fund-raisers last spring.

Sen. Fred Thompson, the Tennessee Republican who is chairman of the committee, ordered the comptroller to turn over by March 7 any briefing papers prepared for the White House or the Treasury Department, copies of any damage-control communications between Mr. Ludwig and the White House or the Democratic Party, and records of contacts since Jan. 1, 1996, with the bankers who attended the meeting.

In addition, Mr. Ludwig and other OCC officials must produce records of any events arranged by Democratic and Republican national committees that they attended or were invited to since 1989.

The Senate committee also demanded information on campaign finance activities from 51 other organizations, including the Federal Deposit Insurance Corp. …

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