Pritzker, Rauner spar after Democrat pledges $1 million to black-owned bank – Chicago Tribune
Democratic governor candidate J.B. Pritzker is making a $1 million deposit in a black-owned bank in Chicago, taking a page from Republican Gov. Bruce Rauner's playbook.
The issue led to back-and-forth attacks from the two campaigns centered on failures of financial institutions Rauner and the Pritzker family have been involved with in their careers.
Pritzker's planned deposit, like Rauner's three years ago in a South Side credit union, carry the goal of generating support from black voters.
Pritzker's campaign tried to draw a distinction between the two men's actions: the Democrat's money pledge was only announced on a Chicago radio show, while Rauner's visit to the credit union was a major campaign event.
Appearing on WVON 1690-AM Monday, Pritzker was asked by a caller named "Bob" if he could do what Rauner did and "make a commitment to put $1 million of the money in a black bank so we can have loans and hire people?"
Pritzker, a billionaire investor and entrepreneur, responded: "As a matter of fact I have made a commitment to do that, and we met with a number of African-American faith leaders who were very encouraging about that and felt like that's a very important way for us to create employment in the African-American community, so that's something I've already done."
The money is going to Illinois Service Federal Savings in Bronzeville, the Pritzker campaign confirmed Friday.
When Rauner campaigned in July 2014 for the governor's office, the wealthy former equity investor attended a South Side meeting of the group Black Wall Street Chicago, where he pledged to deposit $1 million in a black-owned institution.
Later, Rauner showed up at the South Side Community Federal Credit Union at 54th and Wentworth Avenues, scaling back his deposit to $800,000 and giving another $200,000 as a grant. That was because the credit union couldn't generate enough revenue to pay Rauner the interest due on a $1 million deposit.
Pritzker's decision to pick Illinois Service was first reported by Crain's Chicago Business. The bank reported losing $3.8 million for 2016, federal records show, but showed a slight profit in the first three months of 2017.
Early in the primary campaign, Pritzker and his chief rivals for the Democratic nomination have been working to pick up support in the African-American community, a dedicated Democratic voting bloc. Pritzker has among his African-American supporters Aldermen Pat Dowell, 3rd; Roderick Sawyer, 6th; Emma Mitts, 37th; and Michael Scott Jr., 24th, as well as city Treasurer Kurt Summers.
In a statement, Pritzker's campaign sought to draw a distinction with their candidate's actions and Rauner's, contending when the Republican got elected in 2014 he "left Illinoisans behind."
"Unlike Bruce Rauner, Illinois communities can count on J.B. to stand with them as governor because that's what he's done his entire career," the Democrat's campaign said. "J.B. will ensure Illinoisans have a seat at the table as he works to grow jobs, support small businesses, expand access to capital, and bring investment directly into black and brown communities."
Rauner's campaign responded by calling Pritzker's planned deposit "a drop in the bucket to the hundreds of millions Pritzker made peddling subprime loans to minority communities, while costing the taxpayers $300 million and ordinary depositors their savings."
Though it didn't name the institution, the Rauner campaign was referencing the 2001 failure of Superior Bank, which involved the Pritzker family, heirs of the Hyatt Hotel fortune. The bank was chaired at one time by J.B. Pritzker's sister, Penny Pritzker, who went on to become Commerce Department secretary under President Barack Obama.
In December 2001, the Pritzker family and its business partner agreed to pay $460 million to the U.S. over the bank's failure and a decade later got a discount on remaining payments of the 15-year settlement by agreeing with regulators to pay off the balance early, Bloomberg News reported in May 2013.
The Rauner criticism of the Pritzker family's role in Superior prompted the Democrat's campaign to attack the Republican governor for what it said was profiting off of HomeBanc Mortgage Corp.
Rauner "drove the company into the ground, firing approximately 1,100 people, but making sure his CEO got a nearly $5 million golden parachute," said Pritzker spokeswoman Galia Slayen.
In September 2014, the Chicago Tribune reported on Rauner's involvement with HomeBanc, which was the subject of an attack ad then-Democratic Gov. Pat Quinn ran against his Republican challenger.
The equity firm Rauner formerly chaired, GTCR, partnered in 2000 to create HomeBanc Mortgage. While GTCR once held a majority stake, it reduced its holdings after a public stock offering and sold the last of its shares in September 2006, based on Security and Exchange Commission records.
GTCR's actions came just months before the sudden financial unraveling of the mortgage company in 2007 led first to the January firing of CEO Patrick Flood, followed by an August bankruptcy filing. But GTCR had no board members on the mortgage firm involved in its management since 2005, prior to Flood's firing and severance, and the bankruptcy filing. Records showed Rauner was not a board member of HomeBanc in the lead-up to its public offering in 2004.
Twitter @rap30
More:
Pritzker, Rauner spar after Democrat pledges $1 million to black-owned bank - Chicago Tribune
- Tallahassee Democrat wins journalism Gold Medal for 6th time in 8 years - Tallahassee Democrat - April 10th, 2026 [April 10th, 2026]
- Former Chair of PA Democrat Party Makes the Case for More Pipelines - Marcellus Drilling News - April 10th, 2026 [April 10th, 2026]
- Top Oversight Democrat says Democrats are very open to both Bondi and Blanche depositions - MS NOW - April 10th, 2026 [April 10th, 2026]
- GOP Officials Cross Party Lines To Support Democrat Targeted By TMZ - Yahoo - April 3rd, 2026 [April 3rd, 2026]
- Could a Democrat really win Marjorie Taylor Greene's conservative district? This retired Army general is trying - PBS - April 3rd, 2026 [April 3rd, 2026]
- Ohio Democrat on why it's time to end the Iran war - WBUR - April 3rd, 2026 [April 3rd, 2026]
- This Democrat and Republican Want to Help Americans in Rural Areas Buy Houses - NOTUS News of the United States - April 3rd, 2026 [April 3rd, 2026]
- NBC News | House Democrat to introduce bill to bar Trump's signature from appearing on dollar bills - U.S. Representative Jimmy Gomez (.gov) - April 3rd, 2026 [April 3rd, 2026]
- Meet the Democrat who wants to bring a supermajority to the San Diego County Board of Supervisors - NBC 7 San Diego - April 3rd, 2026 [April 3rd, 2026]
- Republican-backed ad ties Democrat to Trump during primary race - Yahoo - April 3rd, 2026 [April 3rd, 2026]
- President Trumps Working Families Tax Cuts (Which Every Democrat Opposed) Is Delivering Historic Relief - The White House (.gov) - April 1st, 2026 [April 1st, 2026]
- Rascals in both parties in full self-preservation mode - The Arkansas Democrat-Gazette - April 1st, 2026 [April 1st, 2026]
- Dow surges more than 1,100 - The Arkansas Democrat-Gazette - April 1st, 2026 [April 1st, 2026]
- Trump-Voting Pastor Accused of Running for Senate as a Democrat to Sour Nebraskas Chance of Flipping Blue - People.com - April 1st, 2026 [April 1st, 2026]
- Could a Democrat really replace Marjorie Taylor Greene? This retired Army general is trying - AP News - April 1st, 2026 [April 1st, 2026]
- WisGOP Response to Dismissal of Democrat Redistricting Lawsuit - Urban Milwaukee - April 1st, 2026 [April 1st, 2026]
- Back to the Future actor Tolkan dies at 94 - The Arkansas Democrat-Gazette - April 1st, 2026 [April 1st, 2026]
- Call it the $ixth District: Democrat vying for Representative Seth Moultons seat pours $2 million into campaign - The Boston Globe - April 1st, 2026 [April 1st, 2026]
- Seth Campbell: The reasoning behind a Tennessee Democrat - Main Street Media of Tennessee - April 1st, 2026 [April 1st, 2026]
- Democrat candidates hope to fill Biggs seat in Congress - yourvalley.net - March 30th, 2026 [March 30th, 2026]
- The campus tour of Michigan Democrat Abdul El-Sayed and the dead end of pseudo-left politics - World Socialist Web Site - March 30th, 2026 [March 30th, 2026]
- Can a Democrat Make Headway With Trump? New Yorks Governor Is Trying. - The New York Times - March 30th, 2026 [March 30th, 2026]
- Meet the Florida Democrat who's now representing Trump's district - CBS News - March 30th, 2026 [March 30th, 2026]
- Democrat's win in District 87 a message to Trump and GOP | Editorial - Palm Beach Daily News - March 30th, 2026 [March 30th, 2026]
- Emotional Woodland shines in Houston - The Arkansas Democrat-Gazette - March 30th, 2026 [March 30th, 2026]
- NFL owners have rule alterations to discuss - The Arkansas Democrat-Gazette - March 30th, 2026 [March 30th, 2026]
- What to Know About Democrat Emily Gregorys Win in Florida - The New York Times - March 26th, 2026 [March 26th, 2026]
- House Democrat accused of misspending covid-19 money could be expelled - The Washington Post - March 26th, 2026 [March 26th, 2026]
- Upstate businessman is third Democrat to join SC Governors race - FOX Carolina - March 26th, 2026 [March 26th, 2026]
- Gov. Gavin Newsom of California, a Democrat widely seen as a likely 2028 presidential candidate, said that he regretted describing Israel as an... - March 26th, 2026 [March 26th, 2026]
- Democrat Emily Gregory pulls off upset win in Trumps backyard - KATV - March 26th, 2026 [March 26th, 2026]
- Third Democrat enters SC governors race, saying the state is not ready for population boom - Post and Courier - March 26th, 2026 [March 26th, 2026]
- Democrat says GOP using shutdown of TSA as 'leverage' - CNN - March 26th, 2026 [March 26th, 2026]
- Democrat Emily Gregory won a Florida special election, defeating Trump-endorsed Jon Maples in a district with a Republican voter-registration... - March 26th, 2026 [March 26th, 2026]
- Smith-Allen, Shephard vying for Democratic nomination to succeed Love in Arkansas Senate District 15 - The Arkansas Democrat-Gazette - March 22nd, 2026 [March 22nd, 2026]
- At last, the thaw is here - Northwest Arkansas Democrat-Gazette - March 22nd, 2026 [March 22nd, 2026]
- Arkansas Democratic Party focused on keeping current seats, then winning flippable ones, chairman says - Northwest Arkansas Democrat-Gazette - March 15th, 2026 [March 15th, 2026]
- The Lone Democrat Who Voted Against the Bipartisan Housing Bill - Time Magazine - March 15th, 2026 [March 15th, 2026]
- Retired General Shawn Harris is a Democrat Running for MTG's Seat in Congress - Civil Discourse with Joyce Vance - March 15th, 2026 [March 15th, 2026]
- War Stirs Mixed Feelings for the Only Iranian American Democrat in Congress - The New York Times - March 15th, 2026 [March 15th, 2026]
- Judge partially backs Democrat Kennedy Center trustee in lawsuit over renaming - WBAL News Radio - March 15th, 2026 [March 15th, 2026]
- Democrat Julie Stauch exits race for Iowa governor after petition issues - KCCI - March 15th, 2026 [March 15th, 2026]
- Democrat Mark Martinez cant run for Douglas County sheriff, new election commissioner rules - News From The States - March 15th, 2026 [March 15th, 2026]
- Burlington Democrat Bob Hooper resigns from House committee over sexual harassment allegations - WCAX - March 15th, 2026 [March 15th, 2026]
- Three Republicans, one Democrat trying to fill vacant state House seat for Baton Rouge area - WBRZ - March 15th, 2026 [March 15th, 2026]
- Sen Fetterman: Every Democrat has agreed on Irans nuclear ambitions - Fox News - March 15th, 2026 [March 15th, 2026]
- TSA rolls out video warning travelers of long wait times, blaming 'Democrat shutdown' - abcnews.com - March 15th, 2026 [March 15th, 2026]
- Urgent-Tribute to Foreigner Live at the Milton Theater, Milton DE - The Star Democrat - March 15th, 2026 [March 15th, 2026]
- Baseball: Montgomerys Rabinovitz tournament returns, now in its 30th year - The Press Democrat - March 15th, 2026 [March 15th, 2026]
- Long-serving Democrat will run for an 18th term in Congress - The Seattle Times - March 15th, 2026 [March 15th, 2026]
- This Texas Democrat won a race he thought he dropped out of. Now what? - Austin American-Statesman - March 11th, 2026 [March 11th, 2026]
- Democrat Shawn Harris to face Trump-endorsed Republican Clay Fuller in runoff to replace Marjorie Taylor Greene, CNN projects - CNN - March 11th, 2026 [March 11th, 2026]
- BREAKING: NH Democrat Delivers Stunning Flip in GOP Territory, Marking Latest Rebuke to GOP in Special Elections - Democratic Legislative Campaign... - March 11th, 2026 [March 11th, 2026]
- Breaking News: Shawn Harris, a Democrat and retired U.S. Army officer, and Clayton Fuller, a Republican endorsed by President Trump, advanced to a... - March 11th, 2026 [March 11th, 2026]
- Trump-backed Clay Fuller and Democrat Shawn Harris advance to runoff in race to replace Marjorie Taylor Greene - NBC News - March 11th, 2026 [March 11th, 2026]
- Trump-backed Fuller and Democrat Harris move to Georgia runoff to succeed Marjorie Taylor Greene - Santa Fe New Mexican - March 11th, 2026 [March 11th, 2026]
- Republican and Democrat head for run-off in election for Marjorie Taylor Greenes House seat - The Guardian - March 11th, 2026 [March 11th, 2026]
- Trump-backed Fuller and Democrat Harris move to Georgia runoff to succeed Marjorie Taylor Greene - Northeast Mississippi Daily Journal - March 11th, 2026 [March 11th, 2026]
- A Democrat enters the race for Vermont governor - WAMC - March 11th, 2026 [March 11th, 2026]
- The 19th: This Democrat built a farm-to-politics career. Now shes working with MAHA moms. - Chellie Pingree (.gov) - March 11th, 2026 [March 11th, 2026]
- Trump-backed Clay Fuller and Democrat Shawn Harris move to Georgia runoff to succeed Marjorie Taylor Greene - Pittsburgh Post-Gazette - March 11th, 2026 [March 11th, 2026]
- Democrat Roy Cooper Needs to Defy North Carolina History to Keep Winning Streak Alive in Senate Race - Chapelboro.com - March 11th, 2026 [March 11th, 2026]
- Trump-backed Fuller, Democrat Harris move to Georgia runoff to succeed Marjorie Taylor Greene - TribLIVE.com - March 11th, 2026 [March 11th, 2026]
- Trump-backed Fuller and Democrat Harris move to Georgia runoff to succeed Marjorie Taylor Greene - Carolina Coast Online - March 11th, 2026 [March 11th, 2026]
- Democrat Shawn Harris to face Trump-backed Clay Fuller in runoff to replace MTG - NPR - March 11th, 2026 [March 11th, 2026]
- Big ninth inning lifts Arkansas State over UALR - The Arkansas Democrat-Gazette - March 11th, 2026 [March 11th, 2026]
- Democrat Roy Cooper needs to defy North Carolina history to keep winning streak alive in Senate race - AP News - March 9th, 2026 [March 9th, 2026]
- Hundreds rally against millionaires tax and Democrat-backed legislation at Washington State Capitol - KING5.com - March 9th, 2026 [March 9th, 2026]
- Sacramento CA - Opal in Sky Villians of the Story and Young Medicine - Mountain Democrat - March 9th, 2026 [March 9th, 2026]
- Democrat Roy Cooper needs to defy North Carolina history to keep winning streak alive in Senate race - WRAL - March 9th, 2026 [March 9th, 2026]
- 'Hits and Misses' incl. the Supreme Court, Steve Daines and Texas Democrat Al Green - WSJ - March 9th, 2026 [March 9th, 2026]
- Democrat Roy Cooper needs to defy North Carolina history to keep winning streak alive in Senate race - WKMG - March 9th, 2026 [March 9th, 2026]
- House Passes H.R. 7744 to End Democrat Shutdown and Fully Fund Homeland Security - House Committee on Appropriations (.gov) - March 7th, 2026 [March 7th, 2026]
- House Democrat seeks to bar Trump from closing Kennedy Center for renovations - The Hill - March 7th, 2026 [March 7th, 2026]
- False threat leads to three-hour lockdown at Windsor High School - The Press Democrat - March 7th, 2026 [March 7th, 2026]
- House Democrat moves to impeach AG Pam Bondi over handling of the Epstein files - Axios - March 7th, 2026 [March 7th, 2026]
- Lev Parnas Running for Congress as a Democrat in Florida - The New York Times - March 7th, 2026 [March 7th, 2026]
- Cole Statement on House Vote to End Democrat Shutdown and Fully Fund Homeland Security - Representative Tom Cole | (.gov) - March 7th, 2026 [March 7th, 2026]
- South Texas Democrat Henry Cuellar helps kill resolution to end U.S. involvement in Iran - San Antonio Current - March 7th, 2026 [March 7th, 2026]
- Santa Rosa Growlers hockey team leaving league, withdrawing from playoffs - The Press Democrat - March 7th, 2026 [March 7th, 2026]