JPMorgan Chase spends $1.52 million in 2nd quarter lobbying on financial reform, other issues

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JPMorgan Chase spends $1.52M lobbying in 2nd qtr

NEW YORK — JPMorgan Chase Bank spent $1.52 million during the second quarter to lobby the government regarding the financial regulatory overhaul and other issues.

That’s a 14 percent drop from the $1.76 million the New York-based bank spent a year earlier.

For the first six months of the year, JPMorgan Chase spent $3.03 million on lobbying as banking regulations came to the forefront of the national agenda.

That means it spent more on lobbying in the first half of the year than any of the other top 10 banks that received money under the Troubled Asset Relief Program, or TARP, in late 2008 and early 2009.

JPMorgan Chase received $25 billion in loans under the program, which was paid back in June 2009.

Chase lobbied the government about banking system and market reforms; regulations on credit and debit card transaction fees; mortgage modification issues and the rural housing loan program.

The financial regulatory overhaul President Barack Obama signed in July included new rules on a variety of banking operations.

The bank also lobbied on issues related to small business lending, on proposed “cap and trade” policies to reduce greenhouse gas emissions and other energy policies and on various trade and tax matters, including proposed taxes on the financial services industry, according to the report it filed July 20.

The bank lobbied Congress, the Federal Deposit Insurance Corp., the Treasury, Commerce and State departments in April through June.

Thomas Koonce, who worked for Rep. Brad Miller, the House Judicial Committee Democratic staff and former Rep. Stephen Neal, is among those registered to lobby for JPMorgan Chase, said the report filed with the House clerk’s office.