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Vin Weber, announced today by former Gov. Mitt Romney as part of his “economic policy team,” was involved in a major scandal in the early 1990s with the House of Representatives Bank.
Weber was a member of the House from Minnesota and overdrew his account with the bank, presenting 125 bad checks for a grand total of $47,987.
At the time Weber claimed, “I operated within the rules of the bank as I understood them, and I never used it in an abusive way.”
Weber resigned from congress after the scandal was revealed.
The scandal at the time involved the House bank not charging members an overdraft, but instead paid out money to House members in a way the average bank customer never could.
In 2006, Weber was paid $360,297 to lobby against regulation of Freddie Mac.
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