Key findings:

  • A handful of lawmakers on the House Financial Services Committee have established themselves as the financial industry’s proxy voices on Capitol Hill.
  •  Members of this Banking Caucus receive massive financial support from the industry and collaborate with industry lobbyists to block or roll back efforts to tighten oversight of financial firms.
  • Lobbyists help draft legislation and write questions for lawmakers to ask at hearings. Lawmakers help drum up support for lobbyists’ pet issues.
  • Several banking caucus members have close connections to the industry, increasing their credibility as they sell industry views to fellow lawmakers.
  • Lawmakers face constant pressure to raise money. For those on the committee, that often means hitting up lobbyists pushing industry interests.