From the October 01, 2008 issue of Agent’s Sales Journal • Subscribe!

Financial Group Spent Millions on Lobbying

Forbes.com reports that the Financial Services Roundtable spent nearly $1.9 million lobbying in the second quarter on banking, mortgage lending, and other issues affecting the industry, according to a recent disclosure report.

The organization's members include Allstate Corp., Aon Corp., Bank of America Corp., Citigroup Inc., MasterCard Inc., Merrill Lynch & Co. Inc., and Visa Inc.

The group lobbied on legislation related to credit cards, home ownership and mortgage lending, student loans, employee pensions, insurance regulation, trade and foreign investment, and taxes, according to the report filed with the House clerk's office.

Besides Congress, the Financial Services Roundtable lobbied the White House; the departments of Treasury, Commerce, Justice, Housing and Urban Development, Homeland Security, and Transportation; the Environmental Protection Agency; the Federal Deposit Insurance Corp.; the Federal Reserve; the Securities and Exchange Commission; the Federal Trade Commission; the Patent and Trademark Office; and the U.S. Trade Representative.

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