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MEDILL NEWS SERVICE



American Bankers Association leads sponsors of banking-related trips
By LEAH GLINIEWICZ
MEDILL NEWS SERVICE

WASHINGTON - The American Bankers Association paid the most of any financial services trade group or company to send House and Senate members on trips in the last four years, according to congressional travel disclosure records.

The ABA spent $34,011 for the trips. The Securities Industry Association spent the next-largest amount, $26,940.

An analysis of congressional trips by Medill News Service in partnership with American Public Media's Marketplace program and American RadioWorks found that private interests spent about $14.4 million from Jan.1, 2000, to June 30, 2004, to send lawmakers on more than 4,800 trips.

Sen. Michael Enzi, R-Wyo., took the most expensive trip in the Senate paid for a financial services entity, $5,935 to Coral Gables, Fla., to speak at a convention paid for by the American Bankers Association. Enzi is a member of the Senate Banking Committee.

However, Enzi is more the exception than the rule among lawmakers on congressional banking committees. Most took no trips underwritten by the financial services industry -- but that doesn't mean they stayed in Washington.

Sen. Evan Bayh, D-Ind., had the third highest total number of trips in the Senate with 41, totaling $142,885. He also took the most trips of any member of the Senate Banking, Housing and Urban Affairs Committee, but none was paid for by the financial services industry.

Committee member Chuck Hagel, R-Neb., ranked seventh overall in the Senate in number of trips, 26 totaling $34,404. Maryland's Paul Sarbanes, top Democrat on the committee, ranked ninth in the Senate with 21 trips, but had the fourth highest total cost, $93,045.

Travel disclosure records show Senate committee members Elizabeth Dole, R-N.C., and Jon Corzine, D-N.J., did not take any trips in the four and a half years analyzed. However, Dole reported only trip -- a one-day jaunt from West Virginia to Raleigh, and back, to meet with tobacco groups - on her annual financial disclosure form, which does not require that costs be listed.

In the House, banking committee members generally traveled more than their Senate counterparts.

Massachusetts Rep. Barney Frank, top Democrat on the House Financial Services Committee, was the third most-traveled congressman. But the cost of Frank's 45 trips totaled only $59,677. Committee Chairman Rep. Michael Oxley, R-Ohio, was right behind Frank in total expenses with $59,394, but took only seven trips.

Rep. Richard Baker, R-La., another Financial Services Committee member, took the most trips paid for by a financial services entity. His seven trips totaled $19,605 and were among 10 outings paid by private groups that totaled nearly $27,000. The seven trips were underwritten by the Securities Industry Association, Fannie Mae, Mortgage Insurance Companies of America, the Federal Home Loan Bank of Seattle, Merrill Lynch and the New York Stock Exchange. Baker's most expensive trip was in April -- $9,312 to Kona, Hawaii, for a Federal Home Loan Bank of Seattle conference paid for by the bank.

Frank was second in number of trips paid for by financial services trade groups. His three trips totaled $3,502 and were courtesy of the American Bankers Association, Securities Industry Association and the National Association of Personal Financial Advisors.

Reps. Robert Ney, R-Ohio, and Joseph Crowley, D-N.Y., each had two trips paid for by financial services groups or companies. Ney's trips sponsored by the Securities Industry Association and the National Association of Mortgage Brokers totaled $6,538. Crowley's came to $1,898, paid for by the New York Stock Exchange, Merrill Lynch and the Financial Services Roundtable.

Records show that Reps. Rick Renzi, R-Ariz., Luis Gutierrez, D-Ill., Steven LaTourette, R-Ohio, Patrick Tiberi, R-Ohio, and Ron Paul, R-Texas, did not take any trips.

Although House and Senate members are not allowed to take trips paid for by lobbying groups, some did take time for TV appearances, which are permitted by the rules. Rick Santorum, R-Pa., a Senate Banking Committee member, appeared on "The Montel Williams Show," which paid $217 to get him there, on Oct. 18, 2000. On Nov. 7, 2003, CNBC's "Louis Ruckeyser's Wall Street," paid Sarbanes $383 for travel. "Meet the Press" paid $1,540 in July1, 2001, for travel for Sen. Charles Schumer, D-N.Y. On the House side, Frank's expenses totaled $2,900 for an April 1, 2002, appearance on the TV show, "Politically Incorrect."

Another committee member, Rep. Walter Jones, R-N.C. took a $369 trip on Sept. 5, 2001, to appear on Trinity Broadcasting Network's "Praise the Lord" show.

On Oct. 27, 2002, Glamour magazine paid $9,912 for Rep. Barbara Lee, D-Calif., a Financial Services Committee member, and her mother to attend the magazine's Woman- of-the-Year awards presentation, given to one of Lee's constituents.


Return to Power Trips: Congress hits the road

     
 

         
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 © 2001 Medill News Service, Northwestern University