JPMorgan Chase Spent $8 Million On Lobbying Last Year, More Than Any Other Bank
Posted in: Today's ChiliWhen 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.
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