The Associated Press June 21, 2010, 7:58AM ET

Financial group spent $2.66M lobbying in 1Q

The Financial Services Roundtable, a group representing big banks, brokerage firms and insurance companies, spent $2.66 million in the first quarter to lobby on legislation to overhaul financial regulations and an array of other issues.

That's up from the $2.26 million that the group spent in the year-ago period, and the $1.8 million it spent in the fourth quarter of 2009.

The group lobbied Congress and federal agencies on financial reform and on measures affecting credit cards, mortgages and foreclosure, student loans, insurance, immigration, small business, retirement investments, data privacy, taxes, trade and disaster planning.

The legislation to rewrite the financial rulebook is now in a House-Senate conference to reconcile the two houses' differing versions. Key lawmakers have said they hope to deliver a final measure to President Barack Obama by July 4.

In addition to the House and Senate, the financial industry group also had lobbying contacts with the White House, the departments of Treasury, Commerce, Justice and Transportation, the White House Council of Economic Advisers, the Federal Deposit Insurance Corp., the Small Business Administration, the Securities and Exchange Commission, the Commodity Futures Trading Commission, the Office of the U.S. Trade Representative, the Federal Trade Commission and the Environmental Protection Agency, according to a disclosure form filed April 15 with the Senate's public records office.

Among the group's members are Allstate Corp., Aon Corp., Bank of America Corp., Citigroup Inc., MasterCard Inc. and Visa Inc.

Lobbyists are required to disclose activities that could influence members of the executive and legislative branches, under a federal law enacted in 1995.


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