Citigroup (NYSE:C) Spends $1.25 million on Lobbying Government

In a move to influence government decisions concerning potential regulations related to the banking industry, Citigroup (NYSE:C) spent about $1.25 million on lobbying during the fourth quarter.

While a significant amount, it was slightly below the $1.28 million spend during the last quarter of 2008. In the third quarter Citigroup spent $1.33 million on lobbying efforts.

Targeted interests Citigroup lobbied for were concerning regulations which could change or affect a number of areas, including credit-card lending, mortgage lending, student lending, how fraud would be enforced, trading of derivatives, privacy of banking data, trade agreements, among other areas of interest for the bank holding company.

It was interesting that during the time they were spending on lobbying during the fourth quarter they also came to an agreement concerning paying back taxpayers $20 billion of what they owed them. The other $25 billion had been converted to common stock in the company, which the government still owns, but has said they will sell sometime in the next year or so.

Among the specific offices Citigroup lobbied were the Treasury Department, White House, Executive Office of the President, Department of Housing and Urban Development, the Council of Economic Advisers, National Security Council, Federal Reserve, Office of Thrift Supervision, both houses of Congress, Commerce Department, Commodity Futures Trading Commission, U.S. Trade Representative and the National Economic Council.

There has been some recent renewed interest in the company, as huge amounts of the stock has been trading hands over the last several days, moving it up to around the $4 a share mark.