KNOWING LARRY PUCCIO: E&E News' Scott Waldman profiles Larry Puccio, a longtime friend and former chief of staff to one of the evenly divided Senate's most powerful members, Joe Manchin, and who has lately cashed in on that relationship on K Street . — "Puccio's ascent into federal lobbying came just before Manchin had diluted, or jettisoned, some of the strongest provisions proposed to reduce emissions within the power sector. When asked if he and Puccio had discussed certain details of the climate and energy bills, Manchin said, 'He's an unconditional friend, and I talk to all my unconditional friends.'" — Puccio has pulled in at least $766,000 since he first began lobbying at the federal level last year. In the months preceding that work, Puccio "'said he had energy companies begging him to open an office in D.C. because he had access to Joe, and that made it easier for him to do business there than in West Virginia,' said Scott Sears , a former Manchin adviser and a past executive director of the West Virginia Democratic Party who has been friends with Puccio for decades. 'He said it was because of everything Joe was doing as chair of the energy committee.'" — "Since then, Manchin's legislative work stands to benefit Puccio's clients. That includes provisions in the Inflation Reduction Act as well as the bipartisan infrastructure law. Manchin was a key architect of both measures." BANKS CHAFE AT 'JUNK FEE' GUIDANCE: Top financial trade groups chided the CFPB after a warning from the consumer watchdog this morning that the imposition of certain fees like overdraft fees could be considered "unfair" and thus violate the Consumer Financial Protection Act. — CFPB Director Rohit Chopra and President Joe Biden rolled out the guidance and railed against "hidden" and "surprise" banking fees at the White House this morning, drawing protests from the industry's representatives in Washington who took issue with the agency's approach and the administration's characterization of the fees. — "Today's Bureau action attempts to sensationalize highly regulated fees that are already clearly disclosed to customers under existing federal rules," argued Rob Nichols, the head of the American Bankers Association, calling the announcement "consistent" with the agency's "misguided public relations campaign against so-called 'junk fees.'" — Nichols defended the industry's use of another type of penalty targeted by the CFPB — fees imposed on depositors when they cash a check that bounces — and noted that many banks have begun to move away from overdraft fees and that recent polling conducted by the trade group found many customers understand their banks' fees. He accused the agency of trying to "regulate via press release" rather than with input from stakeholders through the usual rulemaking process. — Dan Berger , the president and chief executive of the National Association of Federally-Insured Credit Unions, asserted that Chopra's warning amounted to "scare tactics and legally non-binding guidance." Berger added in a statement that "credit unions always put their members first, not their bottom lines, and follow the law by clearly disclosing their fees for products and services to consumers." — "The reality is that America's leading banks are required by law to clearly disclose fees charged for all products and services they provide consumers," echoed Consumer Bankers Association president and chief executive Lindsey Johnson, who added that "as the nation grapples with continued economic uncertainty, it is imperative that hardworking families have access to safe and affordable financial tools to meet their unique needs." HOUSE DEMS CALL IN THE CAVALRY: "House Democrats scrambling to keep pace with the onslaught of late-arriving Republican super PAC dollars are again turning to billionaire Mike Bloomberg for help in the closing days of the midterms," our Chris Cadelago, Ally Mutnick and Sarah Ferris report. — The former New York City mayor "is sending another $10 million to the House Majority PAC , an adviser told POLITICO. The donation comes as Democratic leadership labors for more dollars to protect seats and avert a massive red wave. 'He has a long-standing relationship with Speaker Pelosi, was aware of the party's current needs, and wanted to step up again,' Marc La Vorgna, a Bloomberg spokesperson, told POLITICO." — "The latest cash influx, which brings to $21 million Bloomberg's contribution to House Democrats, is not earmarked and can be spent in districts where party leaders are desperately trying to hang on. It's part of a new, broader strategy by one of the world's wealthiest men to spread around his dollars to battleground races further down the midterm ballot to avert threats from Republicans." OIL AND GAS SPEND HEAVILY ON GOP SUPER PACS: "If Republicans take the House or Senate majority in next month's midterm elections, they'll have the oil and natural gas industry to thank — at least to an extent," per E&E's Tim Cama. This cycle, "oil and gas companies have been among some of the biggest donors to the Congressional Leadership Fund and the Senate Leadership Fund" — the two main super PACs tied to House Republican and Senate Republican leadership, respectively. — "Records show that Chevron Corp. has given $3 million to CLF as of Sept. 30, the most recent information available, making it among the biggest donors. Other oil and gas interests aren't far behind. The American Petroleum Institute, refining and industrial conglomerate Koch Industries Inc. and pipeline company Energy Transfer Partners LP each contributed $2 million to CLF, as did OTA Holdings LLC, a subsidiary of pipeline company Enterprise Products Partners LP, making them among the biggest donors to the organization. Drilling firm Occidental Petroleum Corp. donated $1 million." — "Occidental's $4 million in donations to SLF made it among the top donors to the super PAC — though the No. 1 was One Nation, a nonprofit tied to SLF that can take in contributions without disclosing donors. Chevron gave $2.75 million to SLF, while Koch gave $1.5 million, and OTA and API each gave $1 million." Though the industry's donations have long skewed Republican, during the 2022 cycle, fossil fuel interests have "overshadowed most other interests."
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