Friday, 31 May 2013

When it comes to working the refs, no bank works harder than JPMorgan Chase.

The biggest U.S. bank by assets spent $8 million lobbying Congress on financial reform and other topics last year, outpacing every other large bank, according to the Center for Responsive Politics. The second-biggest U.S. bank, Bank of America, spent just $3 million on lobbying last year, according to CRP data. That spending equates to the amount JPMorgan spent in the fourth quarter alone, MarketWatch reported on Thursday.

The second-biggest lobbying spender among banks last year was Wells Fargo, which spent $6.8 million, according to CRP. Banks are not the heaviest spenders on lobbying -- JPMorgan ranked only 47th in corporate lobbying spending last year. But industry groups like the Chamber of Commerce (which spent $136 million on lobbying last year) and the Business Roundtable ($14 million) do a lot of lobbying on their behalf.



Post a Comment


Powered by Blogger.

ads 3

Popular Posts

ads 4

ads 5