State Street spent $210K lobbying government in 1Q (AP)
Thu, 4 Jun 2009 16:20:36 Etc/GMT
State Street, which specializes in serving institutional investors and wealthy customers, lobbied on regulation of hedge funds, taxes and reporting requirements for banks that received aid under the $700 billion financial rescue program, according to the report filed April 20 with the House clerk's office.
Boston-based State Street provides accounting, brokerage and other services to mutual funds, retirement plans, insurance companies and other customers. It spent $210,000 on lobbying in the fourth quarter and $170,000 in the January-March period last year.
State Street passed the "stress test" for the country's biggest banks early last month, with the government finding that it had sufficient capital to cover potential future losses if the economy worsens. The bank said recently that it planned to raise fresh capital through offerings of common stock and senior notes as part of the effort to repay its government loan.
source: http://biz.yahoo.com/ap/090604/us_state_street_lobbying.html?.v=1