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News roundup: October 18, 2011

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Mitt Romney's and Rick Perry's third-quarter campaign haul came primarily in the form of large donations, but the two candidates have refused to be transparent and reveal the names of the bundlers who raise large sums money on their behalf. In contrast, the Obama campaign has agreed to voluntarily disclose the names of people who raise $50,000 or more.

The Obama campaign reached the landmark 1 million donors on Monday afternoon, a feat achieved just six months into the campaign. The campaign has refused to accept donations from special-interest PACs and Washington lobbyists, instead relying on small donations, which make up 98 percent of the donor base.

Mitt Romney is quite popular among the Wall Street crowd, a new study from the Center for Responsive Politics finds. Romney has raised more than $7.5 million from employees and executives of Wall Street firms, making up about a quarter of his entire fundraising effort.

More than a year after the implementation of the Dodd-Frank Act, many misconceptions still exist about Wall Street reform, especially in regard to its impact on small banks. The Treasury Department clears up the myths: Dodd-Frank holds larger banks to higher standards, thus giving smaller banks a better chance to compete on an even playing field.

Mitt Romney is struggling to capitalize on the shrinking Republican field. Former Tim Pawlenty donors have flocked to Rick Perry despite the Minnesota governor having endorsed Romney. Marjorie Bernard is among those in the Pawlenty-turned-Perry crowd who sees Romney as “[coming] across as being a little too slick.”

Led by the efforts of Attorney General Eric Holder and Dr. Jill Biden, the Justice and Defense Departments will provide $20 million to launch and maintain mentoring programs specifically targeting children with a parent in the military. Funding for training and mentorship initiatives will be administered by three leading national service organizations: the Boys and Girls Clubs of America, Big Brothers and Big Sisters of America, and the National 4-H Council.

The DNC, along with the DCCC and the DNCC, has chosen Greg Hinton to serve in the role of chief diversity officer. The former U.S. Cellular executive will be charged with promoting minority hiring and pro-diversity procurement practices. "I’m proud we’re taking this critical step forward and look forward to working closely with Greg as we strive to take our values of inclusion and strength through diversity to the next level," DNC Chair Debbie Wasserman Schultz said. http://j.mp/ov5IBe

President Obama kicked off the American Jobs Act Bus Tour on Monday to promote his efforts to put Americans back to work and upgrade the country's infrastructure. The tour is taking the President through diverse areas of North Carolina and Virginia—places in need of assistance during tough economic times.