Lazio’s Ties to Banking Industry Haunt His Bid for Governor
New York Times
Friday, September 10, 2010
Raymond Hernandez
Summary: 

In 2008, JPMorgan Chase had a problem. A bill that threatened the profits of its lucrative credit card business had the potential to gain momentum in Congress. But the bank had a stable of lobbyists on its payroll ready to plead its case, including a well-connected rainmaker, former Representative Rick A. Lazio.

The bill, which sought to strictly limit increases on credit card interest rates, stalled in Congress, a victory for JPMorgan Chase and other financial institutions that issue credit cards. But it is not a victory that Mr. Lazio talks much about these days.

As he campaigns across the state to become the Republican candidate for the governor of New York, Mr. Lazio has played down his work as a lobbyist for JPMorgan Chase, glossing over the subject in his biography posted on his campaign Web site.

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