(Buffalo News, The (NY) (KRT) Via Thomson Dialog NewsEdge) Apr. 26–No, HSBC isn’t running an airport. But it might start to look that way in New York City. In a first-of-its-kind arrangement in North America, HSBC Holdings Plc will put its name and advertisements on the interior and exterior of the 108 jetbridges at John F. Kennedy International Airport in Queens.
The British bank on Tuesday announced the five-year agreement with the Port Authority of New York/New Jersey and JCDecaux North America, the world’s second-largest billboard and outdoor advertising firm. Under the $30 million contract, the parent of HSBC Bank USA will be the exclusive advertiser on the walkways that link the airport gates with the planes, where 41 million travelers will see it. The bank this month will start installing ads from its global “Different Points of View” branding campaign, which was introduced in the United States in March.
HSBC and subsidiary Household International are responsible for more foreclosures since 1994 than any other financial institution, and HSBC currently has more BBB complaints against it than the closest predatory competitor, according to consumer advocates. HSBC and tax preparer H&R Block are being sued for racketeering and corruption, while teaming with the federal Office of the Comptroller of the Currency to stop the New York Attorney General from investigating allegations.
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HSBC Finance, formerly Household International, is the consumer-lending arm of British banking behemoth HSBC Holdings PLC and is the sixth-largest issuer of MasterCard and Visa credit cards in the U.S. When it acquired Metris — the 11th-largest card company — HSBC said the addition would complement its existing businesses because Metris focused on low- and middle-income clientele, many with blemished credit files. Metris also had a series of legal, financial and regulatory problems prior to the acquisition.