Rep. Shelley Moore Capito Could Be Senate's Anti-Elizabeth Warren

Image: Rep. Shelley Moore Capito Could Be Senate's Anti-Elizabeth Warren Rep. Shelley Moore Capito.

Tuesday, 15 Jul 2014 09:11 AM

By Elliot Jager

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Rep. Shelley Moore Capito, who appears headed for victory in the West Virginia Senate race in November against Democrat Natalie Tennant, is an unapologetic friend of banks and Wall Street, Politico reported.

Tennant is backed by Massachusetts Sen. Elizabeth Warren, whose populist progressive message is bank-bashing. Democrats say Capito is beholden to banking and business interests.

Capito has been a member of the House Financial Services Committee, and she has strong backing from the U.S. Chamber of Commerce for her campaign.

Besides receiving significant campaign support from Citigroup, Wells Fargo, and Goldman Sachs, she is married to Charles Capito, a banker.

"She is looking increasingly like the anti-Warren candidate," Politico reports.

Capito said her support of financial institutions, including her work on Dodd-Frank's impact, is aimed at smaller banks and credit unions not necessarily the big-name Wall Street firms.

She said, "West Virginians know that I have their best interest at heart, particularly in the financial region, where I've been able to help a lot of the understanding to our community banks and our credit unions, who really are the providers of credit in our state — that I understand their issues and am willing to go to bat for them," according to Politico.

The head of the Independent Community Bankers of America, Cam Fine, said Capito understands the burdens placed on smaller institutions by regulators.

"She takes a pretty even-handed approach, and she does understand that small businesses have a much more difficult time coping with regulatory overreach than the larger banks," Politico reported.

Steve Roberts of the West Virginia Chamber of Commerce said, "I was with bankers the other day who were really praising her for her legislative service."

One unnamed financial services lobbyist described Capito as the "closest thing to a normal person you can get in a politician," according to Politico.

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