HSBC spent $660K lobbying on finance rules in 1Q

The company lobbied on legislation that would allow bankruptcy judges to alter mortgage loans for strapped consumers, a bill with strong support among consumer groups but heavily opposed by the mortgage lending industry.

HSBC also lobbied on other mortgage reform proposals, as well as legislation that would require credit card companies to negotiate the fees they charge merchants directly with them, rather than setting the rates unilaterally.

The company also lobbied the government on bills involving patent reform, flood insurance regulations and taxes, according to the disclosure form filed April 18 with the House clerk's office.