Why It Matters

Charles Schwab’s Q3 2025 lobbying effort signals the company’s intent to get in on crypto and shape two transformative pieces of financial regulation. The Digital Asset Market Clarity Act (H.R. 3633) would establish the SEC and CFTC jurisdictional framework that Schwab needs to offer digital asset services at scale. The Improving Disclosure for Investors Act (H.R. 2441/S. 1877) would reduce operational costs by making electronic document delivery the default.

This represents a strategic shift from Schwab’s historical focus on retirement security and tax policy toward positioning itself as a major player in the emerging digital asset ecosystem, spending $540,000 quarterly to influence legislation that will determine whether firms like Schwab can custody crypto assets alongside traditional securities.

By the Numbers

Charles Schwab Corp. reported $540,000 in lobbying expenditures for Q3 2025. The company conducts lobbying through a dedicated in-house team rather than external firms. Historically, Schwab has filed 81 lobbying disclosures since 2003, spending approximately $49.68 million total.

Schwab’s current three-person lobbying team includes:

The Agenda

Charles Schwab Corp. is leveraging existing institutional knowledge—two of its three lobbyists have direct House Financial Services Committee staff experience—to navigate complex, active legislation, suggesting confidence in its team’s ability to influence outcomes at this critical legislative moment. is lobbying on two primary legislative fronts in Q3 2025.

Beyond current priorities, Schwab has historically lobbied on financial services regulation, retirement policy including the SECURE Act, taxation issues, and consumer protection.

Broader Context

Charles Schwab’s lobbying push arrives amid significant legislative momentum. The Digital Asset Market Clarity Act has advanced through House committees, with the Trump administration’s January 2025 executive order establishing policy support for digital asset growth. A regulatory shift in May 2025 removed barriers preventing broker-dealers from directly custodying crypto assets.

Meanwhile, 88% of fund investors support electronic delivery as the default for regulatory documents, and the Improving Disclosure for Investors Act enjoys bipartisan backing. These developments create both opportunity and urgency for major broker-dealers seeking to offer integrated digital asset services.

Between The Lines

Congress is actively advancing both pieces of legislation. The House Financial Services Committee and House Agriculture Committee are holding hearings on digital asset regulation, with Representative French Hill and Representative Tom Emmer leading efforts. Senators Tillis and Hickenlooper specifically name Schwab as a supporter of electronic delivery legislation.

Competitive Landscape

Charles Schwab is not alone in these efforts. Fidelity Investments is co-supporting the electronic delivery legislation. On digital assets, congressional hearings have featured testimony from crypto exchanges like Kraken, payment companies such as PayPal, and blockchain projects including Uniswap Labs, creating both potential alliances and competition in shaping final legislative language.

The Bottom Line

Charles Schwab Corp. spent $540,000 in Q3 2025 lobbying on two main priorities: the Digital Asset Market Clarity Act to establish crypto regulatory framework and the Improving Disclosure for Investors Act for electronic document delivery. Both bills are moving through the House Financial Services Committee, where Schwab’s team has relevant prior staff experience.

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