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Student loan group spent $680,000 lobbying federal government in first half of 2007


Citizens Financial Group, a division of the Royal Bank of Scotland PLC with banking branches in 13 U.S. states, spent $680,000 to lobby the federal government in the first half of 2007, according to a disclosure form.

The company lobbied on student lending legislation and issues related to the financial concentration of banks in the U.S., according to the disclosure form posted online Aug. 10 by the Senate’s public records office.

Congress last week sent President Bush legislation to boost financial aid for college students by cutting about $20 billion in government subsidies to banks that make student loans. Bush has indicated he will sign the legislation.

Under a federal law enacted in 1995, lobbyists are required to disclose activities that could influence members of the executive and legislative branches. They must register with Congress within 45 days of being hired or engaging in lobbying.

Citizens Financial is based in Providence, R.I.

– Associated Press

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