Banks spent $17.3 million on lobbying in 2011 first quarter
JPMorgan Chase & Co., Wells Fargo and other major banks, credit unions and industry groups spent at least $17.3 million on federal lobbying in the first three months of 2011, according to the Center for Responsive Politics. The lobbying data was collected from the Senate Office of Public Records.
Commercial banks spent a total of $15.3 million, led by:
American Bankers Assn. $2.1 million
Wells Fargo $1.9 million
JPMorgan Chase & Co. $1.8 million
Barclays $1.3 million
Citigroup Inc. $1.3 million
Independent Community Bankers of America $1 million
Bank of America $930,000
Credit unions spent a total of $2 million, led by:
Credit Union National Assn $1.3 million
National Assn. of Federal Credit Unions $420,000
Boeing Employees' Credit Union $120,000
Pentagon Federal Credit Union $60,000
Retailers also became involved in financial reform lobbying because of the law's mandate that the Federal Reserve cap the fees charged by banks to process debit card transactions. Following is a list of the retailers and industry groups that spent the most on 2011 first quarter lobbying, which included non-banking issues:
Retailers spent a total of $12 million, led by:
Wal-Mart Stores $2.4 million
CVS/Caremark Corp. $2.2 million
National Assn. of Convenience Store Operators $1.2 million
Target Corp. $760,000
National Retail Federation $690,000
National Assn. of Chain Drug Stores $660,000
Walgreen Co. $530,000
