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Wednesday, March 20, 2019

JPMorgan’s Connections To The House Finance Committee

by Cora Currier, ProPublica.

JPMorgan Chase CEO Jamie Dimon is on Capitol Hill again today, this time to talk to the House Financial Services committee about the bank’s recent multibillion-dollar trading loss. According to his prepared testimony, Dimon plans to deliver basically the same remarks he gave the Senate banking committee last week, apologizing but giving few details.

His Senate hearing was hardly a grilling; senators mostly praised him for his “emphasis on continuous quality improvement,” in the words of Senator Jim DeMint, R-S.C.

As we charted last week, JPMorgan happens to have plenty of connections to the Senate committee. The House committee where Dimon is appearing today has its own ties to the bank. Congressmen and staff from the committee have gone to JPMorgan and its lobbying firms. Members have also gotten hefty campaign contributions from the bank’s PACs and employees.

The House Connections

JPMorgan has two in-house lobbyists with connections to the House Financial Services committee.

-Rick Lazio joined JP Morgan in 2004 as chief of government relations. He previously served as a congressman from New York from 1993-2000, and sat on the committee.

-Tom Koonce is a lobbyist for JP Morgan and formerly a legislative director for Brad Miller, D-N.C., who sits on the committee.

There are also three former congressional staffers with committee ties at firms currently lobbying for JPMorgan:

-Collins Lionel is a lobbyist at Jones, Walker et al., and a former staff member on the committee. JPMorgan hired the firm this year.

-Nicholas Leibham, who works JPMorgan lobbying firm K&L Gates, was formerly an aide to Gary L. Ackerman, D-N.Y., another committee member.

-Bart Gordon also works at K&L Gates. He’s a former Democratic congressman from Tennessee who, back in the 1980s, sat on the committee.

Data compiled by the Center for Responsive Politics also shows how representatives on the committee have benefited from the generosity of JPMorgan’s employees and PACs.

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