DNC quietly moving money from BofA to union-owned bank, sources say

CHARLOTTE, NC (WBTV) - The Democratic National Committee is set to announce this week that it is moving some of its banking business from Bank of America to a union-owned bank, the Wall Street Journal is reporting, citing party officials.

The paper reports that the DNC is moving money to Amalgamated Bank, A New York City-based, union-owned bank, from Charlotte-based Bank of America.

The party intends to move all of its money to the bank after the November elections, the paper reports.

The move could create some awkward tension in as the Democratic Party prepares to nominate President Barack Obama for reelection next month in Bank of America's home city, meer steps from the bank headquarters.

The President is set to give his acceptance speech from a NFL stadium with Bank of America's logo and sponsorship posted in every corner.

The Wall Street Journal reports that President's Obama's campaign will continue to use Bank of America.

WBTV has reached out to the Democratic National Committee and is awaiting a response.

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