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First Street™ Research Group - Bank of America's (BofA) Lobbying Activity in D.C.

Published: October 5, 2011


Bank of America recently announced a new plan to charge customers who use a debit card a monthly fee of $5. The plan has been met by outrage from customers and politicians as an unnecessary and excessive fee levied on consumers.  The First Street Research Group profiles Bank of America's recent lobbying activity as well as the lobbyists who represent the company and will be tasked with defending these actions.

Overall Highlights
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  • Bank of America (BofA) spent $1,570,000 on its lobbying activity in 2011 including $365,000 which was spent hiring 5 lobbying firms to lobby on its behalf.
  • BofA has had 16 lobbyists lobbying on its behalf in 2011, 5 of which work as part of the in-house lobbying team.  9 of the 16 lobbyists have swung through the revolving door, representing 13 congressional offices and 4 federal agency offices.
  • BofA lobbied 3 federal agencies in 2011.
  • BofA lobbied 9 different issues on a range of items from the "enforcement of the international arbital awards" to "Department of Labor proposed fiduciary regulations." and the "debit interchange fee".
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  • The Bank of America Political Action Committee (Bank of America Corporation Federal PAC) contributed over $300,000 in 2011 to over a 100 different Congressional candidates.
  • BofA lobbied 36 bills in 2011 on various issues ranging from data protection to financial regulation in addition to112th S.575: Debit Interchange Fee Study Act of 2011.


Coalition Builder Image of Bank of America's Lobbying Activity in 2011




Outside Lobbying Firms Hired in 2011

Name

Filing Quarter

Amount

The Smith-Free Group

2011 2Q

 $70,000

Podesta Group, Inc.

2011 2Q

 $60,000

Quadripoint Strategies LLC

2011 2Q

 $30,000

Mayer Brown LLP

2011 2Q

 $10,000

Crowell & Moring LLP

2011 2Q

 < $5,000

Podesta Group, Inc.

2011 1Q

 $60,000

The Smith-Free Group

2011 1Q

 $60,000

Crowell & Moring LLP

2011 1Q

 $30,000

Quadripoint Strategies LLC

2011 1Q

 $30,000

Mayer Brown LLP

2011 1Q

 $15,000



Lobbyists Who Have Represented Bank of America in 2011
Andrew H. Barbour
    Currently: Registered Lobbyist - The Smith-Free Group
    Formerly:
       Deputy U.S. Trade Representative for Congressional Affairs - The Executive Office of the President
       Legislative Assistant (Economy, Transportation, Postal Service) - Rep. Bart Stupak (D-MI)

James F. Carlisle
    Currently: Registered Lobbyist - Bank of America

John E Collingwood
    Currently: Registered Lobbyist - Bank of America
    Formerly:
       Assistant Director, Public and Congressional Affairs Office - Federal Bureau of Investigation (FBI)

David Crane
    Currently: Registered Lobbyist - Quadripoint Strategies LLC
    Formerly:
       Senior Policy Adviser - Minority (Republican) Leader of the Senate Sen. Trent Lott (R-MS)
       Professional Staff Member - Committee on Commerce, Science, and Transportation
       Legislative Assistant (Commerce, Government Affairs, Ethics, Communications, Housing, Banking, HUD, Budget) - Sen. Dan Coats (R-IN)

Jon S. Deuser
    Currently: Registered Lobbyist - The Smith-Free Group
    Formerly:
       Chief of Staff - Sen. Jim Bunning (R-KY)

James C Free
    Currently: Registered Lobbyist - The Smith-Free Group

Edward Jeffrey Hill
    Currently: Registered Lobbyist - Bank of America

Timothy J Keeler
    Currently: Registered Lobbyist - Mayer Brown LLP
    Formerly:
       Chief of Staff - Office of the U.S. Trade Representative (The Executive Office of the President)
       Professional Staff Member, International Trade - Committee on Finance

Israel Klein
    Currently: Registered Lobbyist - Podesta Group, Inc.
    Formerly:
       Deputy Staff Director for Communications/Policy - Joint Economic Committee
       Communications Director, Washington, D.C. - Sen. Charles E. Schumer (D-NY)
       Legislative Assistant; Press Secretary - Rep. Edward J. Markey (D-MA)

Timothy W. Locke
Currently: Registered Lobbyist - The Smith-Free Group

Darrell Minott
    Currently: Registered Lobbyist - Bank of America, N.A.

Anthony Podesta
    Currently: Registered Lobbyist - Podesta Group, Inc.

Theodore Robert Posner
    Currently: Registered Lobbyist - Crowell & Moring LLP
    Formerly:
       Director for International Trade and Investment - International Economics (The Executive Office of the President)
       Trade and Tax Counsel - Rep. Sander Levin (D-MI)

Michael Quaranta
    Currently: Registered Lobbyist - Podesta Group, Inc.
    Formerly:
       Chief of Staff - Rep. Mike Castle (R-DE)

Oscar Ramirez
    Currently: Registered Lobbyist - Podesta Group, Inc.
    Formerly:
       Deputy Chief of Staff; Legislative Director - Rep. Al Green (D-TX)
       President - Congressional Hispanic Staff Association
       Legislative Director and Counsel - Rep. Joe Baca (D-CA)

James E Smith
    Currently: Registered Lobbyist - The Smith-Free Group



Federal Agencies Lobbied by Bank of America in 2011
    Department of Labor
    Department of the Treasury
    Federal Reserve System


Issues Bank of America Lobbied During The 2nd Quarter of 2011

Banking

•H.R.1081, Consumers Payment System Protection Act (All sections of full text); S.575, Debit Interchange Fee Study Act of 2011 and continuing with Tester-Corker Amendment (S.Amdt.3989) to S.3217, Restoring American Financial Stability Act of 2010 (All sections of full text)
•Title VII implementation; S 575- Debit Interchange Fee Study Act of 2011 regarding interchange and debit card interchange; HR 1081- Consumers Payment System Protection Act 2011 regarding interchange and debit card interchange; S183 regarding legislative initiatives on cybersecurity; HR 653- Financial Information Privacy Act regarding legislative initiatives on privacy; HR 654- Do Not Track Me Online Act of 2011 regarding legislative initiatives on privacy; HR 220- Identity Theft Prevention Act of 2011 regarding<br>legislative initiatives on privacy; HR 611-Best Practices Act regarding legislative initiatives on privacy; HR 1528- Consumer Privacy Protection Act of 2011 regarding legislative initiatives on privacy; HR 1895- Do Not Track Kids Act of 2011 regarding legislative initiatives on privacy; HR 2168, S 1212-GPS Act regarding legislative initiatives on privacy; S 799- Commercial Privacy Bill of Rights Act of 2011 regarding legislative initiatives on privacy; S 913- Do Not Track Online Act of 2011 regarding legislative initiatives on privacy; S 1151-Personal Data Privacy and Security Act of 2011 regarding legislative initiatives on privacy; S 1199- Protecting the Privacy of Social Security Numbers Act regarding legislative initiatives on privacy;; S 1223- Location Privacy Protection Act of 2011 regarding legislative initiatives on privacy; RegZ/TILA general issues on legislative and regulatory restrictions on credit cards.

Copyright/Patent/Trademark

•H.R.1249, Leahy-Smith America Invents Act (All sections of full text); S.23, America Invents Act (All sections of full text)
•HR 1249 regarding patent reform; S 23- Patent Reform Act of 2011 regarding patent reform.
•S. 23; HR 1249; Section 18, Business method patents

Energy/Nuclear

•HR 1- Full-Year Continuing Appropriations Act, 2011 general issues regarding Department of Energy loan guarantee program.

Financial Institutions/Investments/Securities

•Enforcement of international arbitral award.
•HR 1121- Responsible Consumer Financial Protection Regulations Act of 2011 regarding consumer federal protection bureau formation; HR 1707- Data Accountability and Trust Act regarding legislative initiatives on data security; HR 1841- Data Accountability and Trust Act of 2011 regarding legislative initiatives on data security; S 1207- Data Security and Breach Notification Act of 2011 regarding legislative initiatives on data security.
•Monitor congressional activities including financial regulatory reform, congressional investigations, and other matters related to; banking and financial company.

Government Issues

•Domestic and International Privacy Initiatives.

Housing

•HR 1221- Equity in Government Compensation Act of 2011 regarding Fannie/Freddie Reform; HR 1223- GSE Portfolio Risk Reduction Act of 2011 regarding Fannie/Freddie Reform; HR 1224- GSE Credit Risk Equitable Treatment Act of 2011 regarding Fannie/Freddie Reform; HR 1225- GSE Debt Issuance Approval Act of 2011 regarding Fannie/Freddie Reform; HR 1226- GSE Mission Improvement Act of 2011 regarding Fannie/Freddie Reform; HR 1227-GSE Risk and Activities Limitation Act of 2011<br>regarding Fannie/Freddie Reform; HR 830- HAMP Termination Act of 2011 regarding issues related to HAMP; S 222 -Limiting Investor and Homeowner Loss in Foreclosure Act of 2010, issues relating to mediation and bankruptcy reform.

Labor Issues/Antitrust/Workplace

•General issues regarding Department of Labor proposed fiduciary regulations.

Taxation/Internal Revenue Code

•HR 749- To amend the Internal Revenue Code of 1986 to permanently extend the subpart F regarding extension of IRS Code 954(h); General issues relating to Corporate tax reform; General issues relating to low income housing tax credit; General issues regarding new markets tax credit program; General issues regarding FBAR regulations; General issues regarding Financial Crisis responsibility fee; HR 940- United States Covered Bond Act of 2011 regarding covered bonds; HR 1439 regarding BATSA.

Trade (Domestic & Foreign)

•Discussions on resolution of non-compliance with arbitration awards under bilateral investment treaty with regard to forthcoming FY2012 Appropriations bill for State and Foreign Operations.
•Enforcement of international arbitral award.



Donations Made by the Bank of America Corporation Federal PAC in 2011

Beneficiary

Candidate

 Amount

Bill Nelson For U S Senate

Sen. Bill Nelson (D FL)

 $10,000

Friends of Jeb Hensarling

Rep. Jeb Hensarling (R TX-5)

 $  7,500

Scott Brown For US Senate Committee Inc

Sen. Scott Brown (R MA)

 $  7,500

Adrian Smith For Congress

Rep. Adrian Smith (R NE-3)

 $  6,000

Ed Royce For Congress

Rep. Ed Royce (R CA-40)

 $  6,000

Mel Watt For Congress Committee

Rep. Mel Watt (D NC-12)

 $  6,000

Neugebauer Congressional Committee

Rep. Randy Neugebauer (R TX-19)

 $  6,000

Cantor For Congress

Rep. Eric Cantor (R VA-7)

 $  5,000

Dave Camp For Congress

Rep. Dave Camp (R MI-4)

 $  5,000

David Scott For Congress

Rep. David Scott (D GA-13)

 $  5,000

Debbie Wasserman Schultz For Congress

Rep. Debbie Wasserman Schultz (D FL-20)

 $  5,000

Devin Nunes Campaign Committee

Rep. Devin Nunes (R CA-21)

 $  5,000

Diane Black For Congress

Rep. Diane Black (R TN-6)

 $  5,000

Feinstein For Senate

Sen. Dianne Feinstein (D CA)

 $  5,000

Grassroots Organizing Acting & Leading PAC - GOALPAC

 

 $  5,000

Hatch Election Committee Inc

Sen. Orrin G. Hatch (R UT)

 $  5,000

Heller For Congress

Sen. Dean Heller (R NV)

 $  5,000

Jim Gerlach For Congress Committee

Rep. Jim Gerlach (R PA-6)

 $  5,000

Kevin McCarthy For Congress

Rep. Kevin McCarthy (R CA-22)

 $  5,000

McHenry For Congress

Rep. Patrick McHenry (R NC-10)

 $  5,000

Moore For Congress

Rep. Gwen Moore (D WI-4)

 $  5,000

Moran For Kansas

Sen. Jerry Moran (R KS)

 $  5,000

Perlmutter For Congress

Rep. Ed Perlmutter (D CO-7)

 $  5,000

Peters For Congress

Rep. Gary Peters (D MI-9)

 $  5,000

Rush Holt For Congress

Rep. Rush Holt (D NJ-12)

 $  5,000

Scott Garrett For Congress

Rep. Scott Garrett (R NJ-5)

 $  5,000

Snowe For Senate

Sen. Olympia J. Snowe (R ME)

 $  5,000

Steve Israel For Congress Committee

Rep. Steve Israel (D NY-2)

 $  5,000

Stivers For Congress

Rep. Steve Stivers (R OH-15)

 $  5,000

Tiberi For Congress

Rep. Patrick J. Tiberi (R OH-12)

 $  5,000

Yoder For Congress

Rep. Kevin Yoder (R KS-3)

 $  4,999

Charles Boustany Jr. MD For Congress, Inc.

Rep. Charles W. Boustany, Jr. (R LA-7)

 $  4,500

Steve Fincher For Congress

Rep. Stephen Fincher (R TN-8)

 $  4,500

Geoff Davis For Congress

Rep. Geoff Davis (R KY-4)

 $  4,000

Mike Thompson For Congress

Rep. Mike Thompson (D CA-1)

 $  4,000

Montanans For Tester

Sen. Jon Tester (D MT)

 $  4,000

Bachus For Congress Committee

Rep. Spencer Bachus (R AL-6)

 $  3,500

John Campbell For Congress

Rep. John Campbell (R CA-48)

 $  3,500

McConnell Senate Committee '14

Sen. Mitch McConnell (R KY)

 $  3,500

Canseco For Congress

Rep. Francisco (Quico) Canseco (R TX-23)

 $  3,000

Friends of Erik Paulsen

Rep. Erik Paulsen (R MN-3)

 $  3,000

Friends of Nan Hayworth

Rep. Nan Hayworth (R NY-19)

 $  3,000

Michael Grimm For Congress

Rep. Michael Grimm (R NY-13)

 $  3,000

Robert Hurt For Congress

Rep. Robert Hurt (R VA-5)

 $  3,000

Berg For Congress

Rep. Rick Berg (R ND-At Large)

 $  2,500

Committee to Elect Chris Murphy

Rep. Chris Murphy (D CT-5)

 $  2,500

Committee to Elect Gary L. Ackerman, Inc.

Rep. Gary Ackerman (D NY-5)

 $  2,500

Conaway For Congress

Rep. Mike Conaway (R TX-11)

 $  2,500

Dold For Congress

Rep. Bob Dold (R IL-10)

 $  2,500

Friends of Jim Clyburn

Rep. James E. Clyburn (D SC-6)

 $  2,500

Friends of Roy Blunt

Sen. Roy Blunt (R MO)

 $  2,500

Gary Miller For Congress

Rep. Gary Miller (R CA-42)

 $  2,500

Jim Renacci For Congress

Rep. Jim Renacci (R OH-16)

 $  2,500

Jon Runyan For Congress, Inc

Rep. Jon Runyan (R NJ-3)

 $  2,500

Levin For Congress

Rep. Sander Levin (D MI-12)

 $  2,500

Lucas For Congress

Rep. Frank Lucas (R OK-3)

 $  2,500

Meeks For Congress

Rep. Gregory W. Meeks (D NY-6)

 $  2,500

Pete Sessions For Congress

Rep. Pete Sessions (R TX-32)

 $  2,500

Rehberg For Congress

Rep. Denny Rehberg (R MT)

 $  2,500

Richard E Neal For Congress Committee

Rep. Richard Neal (D MA-2)

 $  2,500

Stephen F. Lynch For Congress Committee

Rep. Stephen F. Lynch (D MA-9)

 $  2,500

Sue Myrick For Congress

Rep. Sue Myrick (R NC-9)

 $  2,500

Wicker For Senate

Sen. Roger Wicker (R MS)

 $  2,500

Austin Scott For Congress Inc

Rep. Austin Scott (R GA-8)

 $  2,000

Barney Frank For Congress Committee

Rep. Barney Frank (D MA-4)

 $  2,000

Blaine For Congress 2008

Rep. Blaine Luetkemeyer (R MO-9)

 $  2,000

Boren For Congress

Rep. Dan Boren (D OK-2)

 $  2,000

Carper For Senate

Sen. Tom Carper (D DE)

 $  2,000

Committee to Re-Elect Henry Hank Johnson

Rep. Hank Johnson (D GA-4)

 $  2,000

Friends of Jason Chaffetz

Rep. Jason Chaffetz (R UT-3)

 $  2,000

Friends of Sam Johnson

Rep. Sam Johnson (R TX-3)

 $  2,000

Huizenga For Congress

Rep. Bill Huizenga (R MI-2)

 $  2,000

Jim Himes For Congress

Rep. Jim Himes (D CT-4)

 $  2,000

John Carney For Congress

Rep. John Carney (D DE-At Large)

 $  2,000

Maloney For Congress

Rep. Carolyn B. Maloney (D NY-14)

 $  2,000

Nelson 2012

Sen. Ben Nelson (D NE)

 $  2,000

Ryan For Congress

Rep. Paul Ryan (R WI-1)

 $  2,000

Vicky Hartzler For Congress

Rep. Vicky Hartzler (R MO-4)

 $  2,000

Friends of Frank Guinta

Rep. Frank Guinta (R NH-1)

 $  1,500

Matheson For Congress

Rep. Jim Matheson (D UT-2)

 $  1,500

Allen West For Congress

Rep. Allen West (R FL-22)

 $  1,000

Becerra For Congress

Rep. Xavier Becerra (D CA-31)

 $  1,000

Berg For Senate

Berg, Richard A

 $  1,000

Bill Flores For Congress

Rep. Bill Flores (R TX-17)

 $  1,000

Chris Gibson For Congress

Rep. Chris Gibson (R NY-20)

 $  1,000

Clay Jr. For Congress

 $  1,000

Committee to Re-Elect Linda Sanchez

Rep. Linda Sánchez (D CA-39)

 $  1,000

Committee to Re-Elect Nydia M. Velazquez to Congress

Rep. Nydia M. Velázquez (D NY-12)

 $  1,000

Crowley For Congress

Rep. Joseph Crowley (D NY-7)

 $  1,000

Denham For Congress

Rep. Jeff Denham (R CA-19)

 $  1,000

Dutch Ruppersberger For Congress

Rep. C. A. Ruppersberger (D MD-2)

 $  1,000

Elect Blake Farenthold Committee

Rep. Blake Farenthold (R TX-27)

 $  1,000

Fitzpatrick For Congress

Rep. Mike Fitzpatrick (R PA-8)

 $  1,000

Friends of Chris Murphy

Rep. Chris Murphy (D CT-5)

 $  1,000

Friends of Dave Reichert

Rep. Dave Reichert (R WA-8)

 $  1,000

Friends of John Barrasso

Sen. John Barrasso (R WY)

 $  1,000

Giffords For Congress

Rep. Gabrielle Giffords (D AZ-8)

 $  1,000

Issa For Congress

Rep. Darrell Issa (R CA-49)

 $  1,000

Jim Jordan For Congress

Rep. Jim Jordan (R OH-4)

 $  1,000

Kay Bailey Hutchison For Senate Committee

Sen. Kay Bailey Hutchison (R TX)

 $  1,000

Larson For Congress

Rep. John B. Larson (D CT-1)

 $  1,000

McCaskill For Missouri 2012

Sen. Claire McCaskill (D MO)

 $  1,000

Mike Ross For Congress Committee

Rep. Mike Ross (D AR-4)

 $  1,000

Pascrell For Congress

Rep. Bill Pascrell (D NJ-8)

 $  1,000

People For Pearce

Rep. Steve Pearce (R NM-2)

 $  1,000

Schock For Congress

Rep. Aaron Schock (R IL-18)

 $  1,000

Sensenbrenner Committee

Rep. Jim Sensenbrenner (R WI-5)

 $  1,000

Shelley Moore Capito For Congress

Rep. Shelley Moore Capito (R WV-2)

 $  1,000

Team Emerson For Jo Ann Emerson

Rep. Jo Ann Emerson (R MO-8)

 $  1,000

Texans For Lamar Smith

Rep. Lamar Smith (R TX-21)

 $  1,000

Tim Johnson For South Dakota Inc

Sen. Tim Johnson (D SD)

 $  1,000

Walden For Congress

Rep. Gregory S. Walden (R OR-2)

 $  1,000

TOTAL AMOUNT CONTRIBUTED IN 2011

 

 $ 327,999



Bills Lobbied on Behalf of Bank of America since 2011

112 H.R.1: Full-Year Continuing Appropriations Act, 2011

112 H.R.653: Financial Information Privacy Act of 2011

112 H.R.1081: Consumers Payment System Protection Act

112 H.R.654: Do Not Track Me Online Act

112 H.R.1121: Responsible Consumer Financial Protection Regulations Act of 2011

112 H.R.749: To amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income.

112 H.R.1221: Equity in Government Compensation Act of 2011

112 H.R.830: FHA Refinance Program Termination Act

112 H.R.1223: GSE Credit Risk Equitable Treatment Act of 2011

112 H.R.940: United States Covered Bond Act of 2011

112 H.R.1224: GSE Portfolio Risk Reduction Act of 2011

112 S.1151: Personal Data Privacy and Security Act of 2011

112 H.R.1225: GSE Debt Issuance Approval Act of 2011

112 S.1199: Protecting the Privacy of Social Security Numbers Act

112 H.R.1226: GSE Mission Improvement Act of 2011

112 S.1207: Data Security and Breach Notification Act of 2011

112 H.R.1227: GSE Risk and Activities Limitation Act of 2011

112 S.1212: Geolocational Privacy and Surveillance Act

112 H.R.1249: Leahy-Smith America Invents Act

112 S.1223: Location Privacy Protection Act of 2011

112 H.R.1439: Business Activity Tax Simplification Act of 2011

112 S.183: Deepwater Horizon Survivors' Fairness Act

112 H.R.1528: Consumer Privacy Protection Act of 2011

112 S.222: Limiting Investor and Homeowner Loss in Foreclosure Act of 2010

112 H.R.1707: Data Accountability and Trust Act

112 S.23: America Invents Act

112 H.R.1841: Data Accountability and Trust Act (DATA) of 2011

112 S.575: Debit Interchange Fee Study Act of 2011

112 H.R.1895: Do Not Track Kids Act of 2011

112 S.799: Commercial Privacy Bill of Rights Act of 2011

112 H.R.2168: Geolocational Privacy and Surveillance Act

112 S.913: Do-Not-Track Online Act of 2011

112 H.R.220: Identity Theft Prevention Act of 2011

112 H.R.4: Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011

112 H.R.611: BEST PRACTICES Act

112 S.143: Church Plan Clarification Act of 2011




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