Wells Fargo boosts lobbying presence
The bank registered more than 150 lobbyists in 31 state capitals in 2012
Wells Fargo has built up a significant lobbying presence in state capitals to manage the torrent of mortgage-related bills flooding legislatures.
Five years ago, the San Francisco bank reported a limited state lobbying presence focused on the West Coast and Iowa. After becoming a national bank, Wells Fargo now has lobbyists bending state legislators’ ears everywhere from Denver to Baton Rouge, La.
It has built its East Coast lobbying presence beyond that of Wachovia, the Charlotte bank Wells acquired in 2008. The bank also has spent more money on lobbying in states including California and Minnesota, courted city mayors, and sought more government business.
The bank registered more than 150 lobbyists in 31 state capitals in 2012, according to an Observer review of state lobbyist registration rolls. That’s an increase from the 47 in 10 states it had five years ago – or 60 in 14 states if you add in Wachovia’s lobbyists.