JP Morgan Chase & Co (NYSE: JPM), one of the largest banks in the United States, spent a total of $3.1 million lobbying the federal government during the third and fourth quarters of 2009.
Most of JP Morgan’s lobbying efforts related around the potential implementation of the Consumer Financial Protection Agency (CFPA), reform related to lending standards for credit cards and mortgage lending, as well as other regulations revolving around the banking industry. The company also lobbied the government
JP Morgan Chase & Co spent $1.9 million during the fourth quarter of 2009 and $1.2 million on lobbying efforts during the third quarter of 2009. Comparatively, JP Morgan Chase spent $1.1 million on lobbying efforts during the fourth quarter of 2008 when the financial crisis was at its peak.
During the last three months of congress, JP Morgan Chase’s lobbying efforts focused on Congress, The Federal Deposit Insurance Corporation, the Treasury Department, the Securities and Exchange Commission, the Commodity Futures Trading Commission, the United States’ Trade Representative, the State Department and the Commerce Department.
