JPMorgan Chase & Co. (NYSE: JPM) Spent $1.5 Million in Q2 Lobbying

JPMorgan Chase & Co. (NYSE: JPM) spent $1.52 million during the second quarter lobbying the government, largely regarding the financial regulatory overhaul.

The New York-based bank spent 14% less than it did during the same quarter a year earlier, when it spent $1.76 million. For the first half of the year, JPMorgan Chase & Co. (NYSE: JPM) spent $3.03 million in lobbying as the financial reform legislation took center stage in public discourse.

JPMorgan spent more on lobbying during the first half of the year than any of the other large banks which received a bailout under the Troubled Asset Relief Program. Along with other banks, JPMorgan Chase & Co. (NYSE: JPM) received $25 billion in loans under the program, which it paid back last June.

The bank lobbied the government largely about Wall Street reform and reform of the banking system, specifically on transaction fees, issues relating to mortgage modifications and the rural housing loan program. The company also lobbied on energy legislation, tax matters and small business lending, according to a regulatory filing that JPMorgan Chase & Co. (NYSE: JPM) filed with Congress.

JPMorgan Chase & Co. (NYSE: JPM) lobbied a number of federal agencies including Congress, the FDIC, the Department of Treasury, Department of Commerce, and Department of State during the quarter.

JPMorgan Chase & Co. (JPMorgan Chase) is a financial holding company. JPMorgan Chase’s principal bank subsidiaries are JPMorgan Chase Bank, National Association (JPMorgan Chase Bank, N.A.), a national banking association with United States branches in 23 states, and Chase Bank USA, National Association (Chase Bank USA, N.A.), a national banking association that is the Firm’s credit card-issuing bank. JPMorgan Chase’s principal nonbank subsidiary is J.P. Morgan Securities Inc. (JPMorgan Securities), its United States investment banking firm. Its activities are organized into six business segments: Investment Bank, Retail Financial Services (RFS), Card Services (CS), Commercial Banking (CB), Treasury & Securities Services (TSS) and Asset Management (AM). Its wholesale businesses comprise the Investment Bank, Commercial Banking, Treasury & Securities Services and Asset Management segments. Its consumer businesses comprise the Retail Financial Services and Card Services segments.

Shares of JPMorgan Chase & Co. (NYSE: JPM) traded down 0.48% on Friday hitting $37.56.