- 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.
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