Rochester,NY 8/20/2009 2:29:29 AM
JPMorgan Chase & Co., JPM - JPMorgan Chase spent in second quarter nearly $1.8 million to lobby on credit cards
JPMorgan Chase & Co.
Nearly $1.8 million in the second quarter has been spent by JPMorgan Chase & Co. to lobby on credit cards, mortgage programs and other issues, according to a recent disclosure report.
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The New York-based bank has reaped benefits to its investment banking business from a shrunken playing field of competitors, posting a 36 percent jump in second-quarter profit to $2.72 billion. The Wall Street powerhouse also has repaid $25 billion in loans it received from the U.S. government as part of the Troubled Asset Relief Program.
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