Report: Financial Sector Lobbying Is on the Rise in DC
Wall Street banks and other financial firms are spending more money to influence Washington policymaking than before the 2008 financial crisis, according to a new report by Americans for Financial Reform. The nonprofit coalition found the financial industry spent nearly $2 billion on lobbying during the 2017-2018 election cycle — 35 percent more than in the last non-presidential election. The National Association of Realtors and Bloomberg LP topped the list.
How was the money divided? Neither major party can claim the moral high ground, since Republicans received 53 percent and Democrats 47 percent of party-specific contributions.