NEW YORK (AP) â¿¿ The Goldman Sachs Group Inc. spent $1.3 million on lobbying the federal government in the first quarter on issues including details of the financial regulations overhaul that was passed last July.
The amount Goldman spent on lobbying was more than both the $1.19 million that New York-based investment bank spent in the first quarter of 2010 and the $1.06 million it spent in the October-December quarter.
The Dodd-Frank overhaul act was drawn up in response to the 2008 financial crisis. The law was supposed to reign in risk-taking by banks and clear up derivative markets, among other aims. It also established the Consumer Financial Protection Bureau.
Goldman also lobbied the federal government on energy policy, international trade agreements, the tax code and the federal budget as well as issues related to small business lending, according to the disclosure report filed on April 20 with the House clerk's office.In the first quarter, Goldman lobbied both houses of Congress, the Treasury Department, the National Security Council, the Federal Energy Regulatory Commission and the Commodity Futures Trading Commission. Lobbyists are required to disclose activities that could influence members of the executive and legislative branches, under a federal law enacted in 1995.