Influence Explored: Capital One opens its wallet for HSBC, Congress


Bloomberg reported yesterday that U.S. based bank Capital One will purchase UK-based HSBC’s U.S. credit card arm for a reported $2.4 billion.

HSBC originally acquired the credit card unit now being sold in its 2003 acquisition of Household International, known primarily as a sub-prime lender.

Both HSBC and Capital One do business in the the sub-prime market with both loans and credit cards, and both companies took losses in the housing meltdown and financial crisis in 2007 and 2008.

All of these companies spent money in the last ten years to influence policy around banks and lending. Here’s a sample of where their money went:

‘Influence Explored’ takes an article from the day’s headlines and exposes the influential ways of entities mentioned in the article. Names and corporations are run through Sunlight’s influence tracking tools such as Influence Explorer and Transparency Data to remind readers of the money that powers Washington.