Skip Navigation

Close and don't show again.

Your browser is out of date.

You may not get the full experience here on National Journal.

Please upgrade your browser to any of the following supported browsers:

MasterCard Grows Lobby Shop to Sell New Image MasterCard Grows Lobby Shop to Sell New Image

This ad will end in seconds
Close X

Not a member? Learn More »

Forget Your Password?

Don't have an account? Register »

Reveal Navigation

 

Blogs / Influence

MasterCard Grows Lobby Shop to Sell New Image

Credit cards ranked as the most common form of debt for those polled (with 42 percent), followed by mortgages (38 percent), car loans (32 percent), unpaid medical expenses (22 percent), and student loans (21 percent). Mortgages representes the largest volume of debt owed (50 percent), followed distantly by student loans (14 percent).(MARK LENNIHAN/AP)

September 18, 2012

After the banking industry's meltdown and years of bruising fights over Wall Street reform left the financial sector's image in tatters, MasterCard is trying to position itself less as a Wall Street icon and more as a hip tech company.

And to help, the company is doubling the size of its Washington office to a six-person team.

The payment network juggernaut is selling itself as a company "that moves numbers from one bucket to another," said Tucker Foote, who is leading MasterCard's office as head of U.S. government affairs.

Indeed, the company is taking a kinder, more collaborative approach to Washington and looking for ways to do more business with the federal government, much like in 2008 when it linked up with the Treasury Department to issue benefit cards to Social Security beneficiaries.

"We want to find new ways to partner with the government, not fight it," Foote said.

The change in tack comes after MasterCard, banks and other major financial players lost a years-long assault by the retail industry to cap so-called swipe fees, the amount retailers are charged to use debit cards. They essentially lost the legislative fight last year. And this summer, MasterCard, along with Visa and banks that issue their cards, reached a $7.25 billion settlement with merchants who use their credit and debit cards.

"We believe the case is closed and there is enormous fatigue on this issue," Foote said.

But, he added, if Congress was interested in rolling back the Wall Street reform law's cap on debit fees "we would love to explore and talk about that."

Three new faces will help push the company's message: Rachel McGreevy, vice president of state government affairs; Nicole Petrosino vice president of federal government affairs; and Maria Saadat, a senior business aide for U.S. government affairs.

Tom Gannon is the vice president of public policy for the federal level, and Richard Santoro is the vice president of public policy for the state level.

MasterCard has spent $1.89 million on advocacy so far this year, lobbying bills such as SOPA and cyber security, according to data from the Center for Responsive Politics.

More Blogs
Job Board
Search Jobs
Security Alarm Tech/Electrician
Lockheed Martin | Fairfax, VA
Systems Engineer Stf
Lockheed Martin | Washington, DC
Sharepoint Developer
Lockheed Martin | Tampa, FL
Intelligence Analyst Stf
Lockheed Martin | Springfield, VA
Info Assurance Engineer Sr
Lockheed Martin | Glen Allen, VA
Sr. Software Engineer
Lockheed Martin | Herndon, VA
Technical Service Engr Asc Mgr
Lockheed Martin | Herndon, VA
Software Engineer Sr
Lockheed Martin | King of Prussia, PA
Aircraft Maintenance Asc Mgr
Lockheed Martin | Warner Robins, GA
Software Engineer Sr Stf
Lockheed Martin | Herndon, VA
Software Engineer Sr Stf
Lockheed Martin | Herndon, VA
Proposal Analysis Mgr
Lockheed Martin | Herndon, VA
Maintenance Program Management Mgr
Lockheed Martin | Patrick AFB, FL
Assessment Engineer
Lockheed Martin | Bethesda, MD
Info Assurance Engineer Sr
Lockheed Martin | Bethesda, MD
Comments
comments powered by Disqus