Rangel Said He'd Never Heard of Big Bank Donor - NBC New York

Rangel Said He'd Never Heard of Big Bank Donor



    Rangel Said He'd Never Heard of Big Bank Donor
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    What donor?

    Rep. Charlie Rangel swears he doesn’t know his own donors.

    HSBC Bank’s political action committee has given the New York Democrat at least $28,000 in the last decade, according to federal campaign finance records.

    But Rangel told House ethics investigators in November that he had never heard of the bank, which has almost 400 branches in his home state of New York and is one of the largest financial institutions in the world.

    Rangel “stated that he did not know what HSBC Bank was,” according to an ethics committee report that admonishes Rangel for violating House gift rules by taking a trip to the Caribbean that was underwritten by corporate sponsors.

    HSBC is mentioned in testimony because it threatened to withdraw its financial backing for a 2008 conference in the Caribbean that Rangel and several other lawmakers attended.

    The bank ended up kicking in more than its original share – but in the form of advertisements in the newspaper linked to the charity that funded the conference.

    Rangel’s relationship with HSBC’s PAC dates back at least as far as 2000, when a $1,000 contribution was made to his shoo-in re-election campaign.

    Its most recent donation to Rangel, a check for $2,500, was delivered on Aug. 28, 2009, about two months before his testimony.

    Overall, the $28,000 total, spread between Rangel’s campaign committee and political action committee, represents just a tiny fraction of the millions of dollars the powerful tax writer has raised over the last decade.