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Capital One Financial Corp. spent $330,000 in the third quarter to lobby the federal government on the development of the Consumer Financial Protection Bureau and other aspects of financial regulatory reform, according to a disclosure report.
That's a 74 percent jump up from the $190,000 that the bank spent a year earlier but 23 percent less than the $430,000 it spent in the second quarter of 2010.
The McLean, Va.-based bank also lobbied the federal government on legislation involving issues related to derivatives, capital and liquidity requirements, small business credit cards, regulation of the fees charged to retailers for processing debit card transactions and issues related to bank mergers and banking operations like checking and savings accounts, according to the report the company filed Oct. 20 with the House clerk's office.
Other issues on the agenda for the bank's lobbyists included data tracking and online privacy, tax reform and patent reform.
Capital One is one of the top credit card issuers in the U.S., and in recent years expanded its retail banking operations through a series of mergers and acquisitions. It is awaiting regulatory approval for its planned $9 billion acquisition of ING Direct.
In the July-to-September period, the company best known for its "What's In Your Wallet?" advertising campaign lobbied both houses of Congress, according to the report.