JPMorgan Chase spends $1.9M on lobbying

JPMorgan Chase & Co.'s banking subsidiary spent $1.9 million during the fourth quarter to lobby the federal government on issues related to regulations that would affect the banking industry. The $1.9 million spent during the quarter by J.P. Morgan Chase Bank NA, compares with $1.1 million spent to lobby the government during the final quarter of 2008 as the credit crisis peaked. The bank spent $1.2 million lobbying the federal government during the third quarter of 2009. JPMorgan has been one of the best performing banks during the recession and credit crisis and has maintained its strength throughout 2009. In the final three months of 2009, JPMorgan Chase lobbied Congress, the Federal Deposit Insurance Corp., Treasury Department, Securities and Exchange Commission, Commodity Futures Trading Commission, U.S. Trade Representative, State Department and Commerce Department. JPMorgan lobbied the government on issues including reform to credit card lending standards, mortgage lending, income taxes and market regulation reform.