The statute's focus on the banking industry is constitutional, and "no smoking gun is needed" to show the danger of corruption, U.S. District Judge Brian Martinotti found.
June 22, 2021 at 02:56 PM
3 minute read
A New Jersey federal judge has rejected a constitutional challenge to a state law barring banks from making contributions to candidates for state or local offices.
The statute banning political contributions by banks does not violate the First Amendment because it is closely tailored to the government interest in addressing corruption, U.S. District Judge Brian Martinotti of the District of New Jersey ruled in a suit by the New Jersey Bankers Association.
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