Romney bundler resigns banking post

Robert Diamond, a top bundler for Mitt Romney, who resigned his post Tuesday at Barclays amid a $450 million banking scandal, has pulled out of a high dollar fundraiser for the Republican candidate.

Robert Diamond (Bloomberg) Diamond stepped down as CEO of Barclays after the bank was fined for manipulating a key interest rate.

On July 28, Diamond was set to co-host an event in London, where Romney will travel for the Olympics.

“Mr Diamond decided to step aside as a co-host for the upcoming London reception to focus all his attention on Barclays. We respect his decision,” said Andrea Saul, a spokeswoman for Mr Romney’s campaign in a statement to the Financial Times.

The ticket price range for the dinner is $25,000 to $75,000 according to the Financial Times.

According the the Center for Responsive Politics, Barclays’ employees have donated over $200,000 to the Romney campaign, with dozens maxing out with $2,500 contributions.

Romney who founded Bain Capital, a private equity company, has raised millions from Wall Street as he has campaigned to relax regulations. He has repeatedly vowed to repeal the Dodd-Frank law, which increases regulations on the financial industry.