Finance & Banking
Wall Street banks, hedge funds, and financial services firms are among the largest campaign contributors in American politics. The finance sector directs massive contributions to members of the Senate Banking Committee, House Financial Services Committee, and leadership in both parties to influence regulation of banks, investment firms, cryptocurrency, and consumer financial protections.
Party Breakdown
Top 10 Recipients
No tracked funding data available for this industry yet.
Frequently Asked Questions
How much does the financial sector spend on lobbying?
The securities, investment, and banking industries collectively spend over $200 million annually on federal lobbying, making finance one of the top three lobbying sectors. Major spenders include JPMorgan Chase, Goldman Sachs, Bank of America, Citigroup, and the American Bankers Association. This spending targets financial regulation, tax policy, and consumer protection rules.
How did bank lobbying lead to the 2008 financial crisis?
The financial industry successfully lobbied for the repeal of Glass-Steagall in 1999, which had separated commercial and investment banking since the Great Depression. They also lobbied against regulation of derivatives and pushed for weaker capital requirements. These deregulatory wins directly enabled the risk-taking that caused the 2008 crash, which cost the U.S. economy an estimated $12.8 trillion.
What is the revolving door between Wall Street and government?
Senior government officials frequently move between Wall Street firms and regulatory agencies. Treasury Secretaries, SEC chairs, and Fed governors often come from or leave for major banks. This revolving door creates regulatory capture — the phenomenon where regulators identify with and protect the industries they are supposed to oversee rather than the public interest.