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Washington Mutual spent $270,000 lobbying in 1Q



By AP
26 June 2008 @ 04:29 pm EST

WASHINGTON - Washington Mutual Inc., the nation's biggest savings and loan, spent $270,000 in the first quarter lobbying on banking, mortgage and regulatory issues, according to a recent disclosure form.

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The Seattle-based company lobbied Congress on regulation of federal thrifts, credit card practices, an overhaul of regulation for mortgage giants Fannie Mae and Freddie Mac, and foreclosure prevention legislation, according to an April 18 filing with the House clerk's office.

The company also lobbied on a bill ardently opposed by the lending industry that would let bankruptcy judges reduce loan amounts and interest payments for homeowners facing foreclosure.

Besides lawmakers, Washington Mutual lobbied the Federal Deposit Insurance Corp., Federal Reserve, Office of Thrift Supervision, Office of the Comptroller of the Currency and the Treasury Department in the first three months of the year.

Washington Mutual spent $980,000 lobbying last year.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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