Lynch Requests Hearings on Reports that Trump Campaign Chairman Offered Top Administration Job to Banker Who Loaned Him Millions in Return

Apr 17, 2018 Issues: Financial Services Committee, National Security

Washington, D.C. (April 17, 2018)—Today, Rep. Stephen F. Lynch and Rep. Maxine Waters, the Ranking Member of the House Financial Services Committee, sent a letter to Rep. Jeb Hensarling, Chairman of the Financial Services Committee, and Rep. Steve Pearce, Chairman of the Terrorism and Illicit Finance Subcommittee, requesting the Committee and Subcommittee hold hearings to examine an alleged quid pro quo arrangement between Trump campaign chairman Paul Manafort and banker Stephen Calk.

“We are writing to respectfully request that our Committee holds both Full Committee and Terrorism and Illicit Financing Subcommittee hearings to examine issues relating to disturbing reports that Stephen Calk, the CEO of Federal Savings Bank in Chicago, made loans of up to $16 million to President Donald Trump’s campaign chairman, Paul Manafort, in exchange for promises to name him Secretary of the Army,” wrote Reps. Lynch and Waters.

According to the Wall Street Journal, Calk’s company loaned Manafort millions “as part of a quid pro quo arrangement to secure Mr. Calk a job in Mr. Trump’s administration.” In response to a request for information from Rep. Elijah E. Cummings, the Ranking Member of the House Committee on Oversight and Government Reform, and Rep. Lynch, who serves as the Ranking Member of the National Security Subcommittee, the Department of Defense confirmed that Calk called Army administrative personnel in the days following Donald Trump’s victory in the 2016 presidential election to inquire about the confirmation process for presidential appointees.

“Although Mr. Calk ultimately was not given a position with the Department, reports that he was being considered for a high-level and highly sensitive national security position within the Trump Administration as part of a quid pro quo with Mr. Manafort raise serious concerns that, completely apart from Special Counsel Robert Mueller’s investigation, warrant scrutiny by our Committee,” wrote the members.

Reps. Lynch and Waters are requesting that Calk testify before the Committee and Subcommittee.

Click here to read today’s letter.