President Obama portrays himself as a watchdog of credit card companies and a critic of their fees, but his re-election campaign is a gold mine for some of those same companies.
Documents filed with the Federal Election Commission show that Obama for America paid more than $480,000 in credit card fees in June. The campaign of Republican Mitt Romney, by comparison, paid about $37,000 in charge-card fees last month.
Online contributions to the president’s re-election campaign fund are assessed a fee by the credit card companies.
There’s evidence that the Obama campaign’s early foray into a mobile phone credit card donations app, with a swipe attachment, is generating even more fees for card issuers. Campaign officials unveiled the mobile technology in January, and the fees paid by the campaign in June nearly reached the level of credit card fees for the entire fourth quarter of last year — $612,903.