Other Banking Panel Members Also Prevail
By ROBERT M. GARSSON
WASHINGTON --Despite the anti-incumbent mood, banking committee members generally fared well in Tuesday's primary balloting.
In particular, Rep. Mary Rose Oakar, D-Ohio, took advantage of a crowded primary field to win renomination with 39% of the vote, despite adverse publicity from the House Bank scandal.
Rep. Oakar, chairman of the House Banking Committee's international subcommittee, was listed as one of the worst offenders with 213 overdrafts. She may face a tough race in November.
Campbell Loses Bid
Sen. Richard Shely, D-Ala., and Rep. Marge Roukema, R-N.J., won their primaries easily. With the retirement of Rep. Chalmers Wylie, R-Ohio, Rep. Roukema is expected to return next year as the House banking panel's third-ranking Republican.
Rep. Tom Campbell, a California Republican, lost his bid for a Senate nomination. Mr. Campbell, a Ph.D. economist and Harvard-trained lawyer who was widely regarded as one of the brightest members of the House Banking Committee, lost to television commentator Bruce Herschenson.
"Campbell was a major loss," said Kenneth Guenther, executive vice president of the Independent Bankers Association of America.
McCarthy Also Off Ballot
The Independent Bankers supported Mr. Campbell heavily, along with Lt. Gov. Leo McCarthy, who lost the Democratic nomination for the same seat. Mr. McCarthy lost to Rep. Barbara Boxer, D-Calif., who triumphed despite the 143 overdrafts she ran up at the House Bank.
Mr. Guenther cited Rep. Oakar's victory as a loss for the industry, contending that she has advocated increased regulation at a time in which bankers cite the "regulatory burden" as their most pressing concern.
Many bankers have mixed feelings about Rep. Oakar. Despite her strong liberal orientation, the Cleveland legislator has supported efforts by larger instiutions to obtain authority to offer new products and services.
Elsewhere, former Rep. John Rousselot won only 7% of the vote, finishing third in a field of six, in his bid for the Republican nomination in a newly created California district.
