Ameriquest's budget to woo local, national officials: $20M+
(NEWSER) - Subprime giant Ameriquest spent more than $20 million on political donations from 2002 to 2006 to successfully lobby against lending restrictions meant to protect borrowers, reports the Wall Street Journal. Though the company spent millions at the national level, its focus was local, where regulators were cracking down on predatory lending. Countrywide, Citigroup, and Wells Fargo also joined the quest for softer rules. More»
