New Hampshire Gov. Maggie Hassan
Gov. Maggie Hassan’s spokesman William Hinkle emailed her response to the investigation by followthemoney.org posted on InDepthNH.org on Thursday about her selection of Republican Sen. Jerry Little as Banking Commissioner. The followthemoney.org story is posted below.
Hi Nancy,
Governor Hassan nominated Senator Little to be the next Commissioner of the New Hampshire Banking Department because he was the most qualified candidate who best understood the department’s critical role in ensuring strong protections for New Hampshire’s citizens and the importance of a well-regulated financial sector to a strong economy.
In addition to his extensive experience in state and local government and expertise on banking issues, Senator Little has worked to implement strong consumer protections, including efforts last year on legislation to expand the foreclosure notice requirement and remove an exemption for New Hampshire-based banks, as well as work to include strong regulations for securities transactions in last year’s securities modernization act.
These efforts have demonstrated Senator Little’s commitment to strong consumer protections, and Governor Hassan is confident that he will continue to build on that work to ensure strong protections for New Hampshire’s citizens as banking commissioner.
I would also draw your attention to this line from the piece, “Commercial banking contributions made up a relatively small portion of Gov. Hassan’s contributions total,” as well as these statements from others regarding the nomination:
– Senator Feltes’ op-ed in support of Senator Little’s nomination: http://www.nashuatelegraph.com/opinion/commentary/1077525-474/banking-nominee-deserves-fair-vetting.html
– Councilor Sununu’s statement in John DiStaso’s column: Among the Republican executive councilors, Chris Sununu said he was pleased that Hassan nominated Little, who, Sununu said, “was also my first choice for this position.”
“I feel there is a good consensus not just on the council but also among the stakeholders and the banking community that he will do a good job,” Sununu said. – http://www.wmur.com/politics/new-hampshire-primary-source-is-ayottes-scotus-position-hurting-her/38173566
– Senator Morse’s statement on the nomination: http://gencourt.state.nh.us/Senate/newsroom/2016/2%209%2016%20Senate%20President%20Morse%20statement%20on%20nomination%20of%20Jerry%20Little%20for%20NH%20Banking%20Commissioner.pdf
Best, William
William Hinkle, Communications Director, Office of Governor Maggie Hassan
National Institute on Money in State Politics: Hassan Banks on Little
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New Hampshire Gov. Maggie Hassan
Gerry Little
by J T Stepleton | 2016-03-17
In New Hampshire, a Little could go a long way—for the banks. Democratic Gov. Margaret Wood (Maggie) Hassan recently crossed party lines to appoint Republican state Sen. Gerald H. (Jerry) Little commissioner of the state’sBanking Department. The selection has been criticized as a “revolving door” appointment because Little served as president of the New Hampshire Bankers Association (NHBA) before being elected to represent Senate District 8 in 2014. The Executive Council is holding a public hearing on Friday, March 18, 2016.
The National Institute on Money in State Politics looked into banking contributions to both elected officials and discovered a startling total to Sen. Little’s 2014 campaign that far outpaces giving by other industries. Gov. Hassan also amassed more from these donors than almost every other state politician in New Hampshire since 2000, although unlike Little, she relied more heavily on other donors.
Commercial banking contributions made up a relatively small portion of Gov. Hassan’s contributions total, but it is clear these donors kept a keen eye on the governor. Commercial banking contributors gave her $20,264, which is less than one percent of her career fundraising total. That said, it is the second-highest total from commercial bankers to New Hampshire candidates from 2000 through 2014. She also enjoyed a noticeable jump in such contributions during her 2014 reelection bid. Little’s former employer, NHBA, gave more to Hassan ($3,700) than to any other candidate since 2000.
Commercial banking donors were far and away the most generous contributors to Sen. Little’s campaign, providing $18,350 in donations to Little, which was 19 percent of his war chest. Ninety-two percent of the money from these donors came from in-state commercial banking contributors, the very entities regulated by the Banking Department. In stark contrast, his general election opponentdid not collect a single dollar from commercial banking donors.
| Industry | Total |
|---|---|
| Commercial Banks | $18,350 |
| Candidate Committees | $8,750 |
| Candidate Contributions | $8,169 |
| Lawyers and Lobbyists | $5,850 |
| Real Estate | $4,600 |
The Banking Department also regulates savings and loans and credit unions—two additional industries that supplemented banking contributions to Little and Hassan in 2014. Savings and loan donors gave Little $4,200, bringing his contribution total from banks to $22,550, which was 23 percent of his campaign total. A $1,000 contribution from a credit union to Gov. Hassan brought her 2014 banking total to $14,459. Taken together, contributions from these three banking interests to Little and Hassan accounted for 58 percent of all contributions from these industries to state candidates in New Hampshire in 2014. In fact, the next-largest banking contribution total that year was only $4,000 to Senate President Charles W. (Chuck) Morse.
Figure 1: Contributions to New Hampshire State Candidates From Industries Regulated by the New Hampshire Banking Department, 2014
The banking industry in the Granite State almost bet the bank on Hassan and Little in 2014, and they could soon have one of their own as the industry’s top regulator in the state. Hassan cites Little’s experience as his best asset, but that inevitably leads to questions about conflicts of interest and who the candidate reaches out to for campaign money. The issue will likely not fade—Hassan is competing for a U.S. Senate seat this year in a state where banking contributors have been even more generous to federal candidates.
InDepthNH.org has requested comment from Gov. Hassan.