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