US Banks Ramped Up Lobbying by Nearly 20% as SVB, Signature Failed
- Regional banks among those that spent more on lobbyists
- Mid-tier banks to face more regulations in coming months
The US Capitol in Washington, DC.
Photographer: Stefani Reynolds/BloombergThis article is for subscribers only.
Three dozen of the largest US banks and the groups who represent them increased spending on lobbying Congress by 19.3% last quarter as fears of a banking contagion spread.
Thirty-two of the largest banks and four trade groups collectively spent $22 million on influencing lawmakers in the first quarter of 2023, according to federal lobbying disclosures, up from $18.4 million in the same period last year.