BofA aims new credit card at illegal immigrants

uscitizen

uscitizen

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BofA aims new credit card at illegal immigrants: report
Tue Feb 13, 2007 12:35am ET136


NEW YORK (Reuters) - Bank of America Corp. has begun offering credit cards to customers without Social Security numbers, typically illegal immigrants, the Wall Street Journal reported on Tuesday.

In recent years, banks across the country have been offering checking accounts and even mortgages to the nation's fast-growing ranks of undocumented immigrants, most of whom are Hispanic, the paper said, adding these immigrants generally have not been able to get major credit cards.

The new Bank of America card is open to people who lack both a Social Security number and a credit history, as long as they have held a checking account with the bank for three months without an overdraft, the Journal said.

Bank of America tested the program last year at five branches in Los Angeles, and last week expanded it to 51 branches in Los Angeles County, home to the largest concentration of illegal immigrants in the U.S., the Journal said.

The bank hopes to roll out the program nationally later this year, the paper said.

A Bank of America spokesman was not immediately available to comment.

http://today.reuters.com/news/articlenews.aspx?type=domesticNews&storyid=2007-02-13T053517Z_01_N13447905_RTRUKOC_0_US-BOFA-CARD.xml&src=rss&rpc=22
 
This is just one of the reasons why we have a failing immigration policy...businesses focus on how skirt around the law.....and congress lets them.
 
Profit is next to godliness Care.
Remember the parable about the rich man giving his servants some talons of gold to invest while he was away....
 
Damo, and if they lose their butts on this risky venture, they will just charge the rest of us more...Of course I carry no balance on my cred cards....
 
uscitizen said:
Damo, and if they lose their butts on this risky venture, they will just charge the rest of us more...Of course I carry no balance on my cred cards....
Click to expand...
Nor do I. However the "charge us more" thing works with healthcare, as well as welfare costs...
 
GOP Lawmakers Peeved at New Bank of America Credit Card Program

Thursday, February 15, 2007
WASHINGTON — Lawmakers are lashing out at Bank of America Corp. over its new program to offer credit cards to customers without Social Security numbers, saying it creates a dangerous loophole for terrorists and illegal immigrants.

Rep. Tom Tancredo, R-Colo., called for a federal investigation of the program on Wednesday, sending Attorney General Alberto Gonzales and Homeland Security Secretary Michael Chertoff a letter requesting a review of the program.

"After September 11, we were told that money was the lifeblood of terrorists, and that we should do everything possible to block their access to financial resources," Tancredo said in a statement. "Today we are hearing a far different message: Bank of America, it's everywhere terrorists want to be."

The program welcomes applicants without a Social Security number and credit history if they have held a checking account with the bank for three months without an overdraft, The Wall Street Journal first reported in Tuesday editions.

Another Republican lawmaker criticized the program, saying it should be stopped to avoid security risks with illegal immigrant members of the program.


"If an individual wants to get a credit card, they can get that in their home country," Rep. Marsha Blackburn, R-Tenn., told FOX News.

"This is something that is of deep concern to me, that Bank of America would choose to market to those that have chosen to break U.S. law to enter this country and then they would give credit to them," Blackburn said.

http://www.foxnews.com/story/0,2933,251970,00.html
 
And if you bank with B of A.... time to transfer your account. Not because you money is at risk, but because this policy is designed to deliberately circumvent the law.
 
As an american citizen, I can not get a bank account without a SS card and a birth certificate and another usa gvt id....and even then it is subject to them approving it.....

Let alone a credit card requirement!

this is bulcrap...and we will be held accountable if these guys bail out...another Savings and Loan fiasco where the american citizens BAIL the banks out FOR THEIR bad decisions.
 
New requirements of the Homeland Security require banks to KNOW who is moving money, and to where, to curb donations and money-flow to terrorist organizations. This totally flies in the face of that. However, the Bush Administration is not only reticent to do anything at all about illegal immigration, their policy appears to encourage it. I seriously doubt those people will make it a priority to bring this bank into line simply because it goes against the grain of their promotion of "guest workers" before closing the border.
 
uscitizen said:
BofA aims new credit card at illegal immigrants: report
Tue Feb 13, 2007 12:35am ET136


NEW YORK (Reuters) - Bank of America Corp. has begun offering credit cards to customers without Social Security numbers, typically illegal immigrants, the Wall Street Journal reported on Tuesday.

In recent years, banks across the country have been offering checking accounts and even mortgages to the nation's fast-growing ranks of undocumented immigrants, most of whom are Hispanic, the paper said, adding these immigrants generally have not been able to get major credit cards.

The new Bank of America card is open to people who lack both a Social Security number and a credit history, as long as they have held a checking account with the bank for three months without an overdraft, the Journal said.

Bank of America tested the program last year at five branches in Los Angeles, and last week expanded it to 51 branches in Los Angeles County, home to the largest concentration of illegal immigrants in the U.S., the Journal said.

The bank hopes to roll out the program nationally later this year, the paper said.

A Bank of America spokesman was not immediately available to comment.

http://today.reuters.com/news/articlenews.aspx?type=domesticNews&storyid=2007-02-13T053517Z_01_N13447905_RTRUKOC_0_US-BOFA-CARD.xml&src=rss&rpc=22
Click to expand...


The ONLY way they would have done this is if they have been given information that "yes, in fact, these illegals will be made legitimate and accountable in the near future."
 
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