MasterCard spent $960,000 in 4Q to lobby Congress on credit cards, security, Internet issues

MasterCard spends $960,000 in 4Q to lobby Congress

NEW YORK — MasterCard Inc. spent $960,000 during the fourth quarter to lobby the federal government on legislation related to credit cards, overdrafts, consumer financial protection, data security and other issues.

The $960,000 spent compares with $680,000 paid to lobby the government in the third quarter and $510,000 during the final quarter of 2008, according to a disclosure reports.

In the final three months of 2009, Purchase, N.Y.-based MasterCard lobbied the House and Senate on bills regarding various credit and debit payment card issues, including interchange fees, card issuer practices, overdrafts, small business cards and credit card rates.

Issues related to using payment cards to purchase prescription medication over the Internet were also on the agenda, as were Internet gambling and global market access. Mastercard’s representatives also addressed the proposed Consumer Financial Protection Agency and other banking reform in their lobbying efforts.