BofA facing boycott over credit card
Posted on Monday, February 19 @ 14:33:41 EST
Topic: Boycott Bank of America
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 BofA facing boycott over credit card
Coalition says bank should be charged with `aiding and abetting' illegal immigrants
A coalition of groups that advocate for tighter U.S. borders has launched a boycott against Bank of America Corp. because of a new credit card that could be used by illegal immigrants.
The National Illegal Immigration Boycott Coalition is asking people to close their accounts and sign a petition at www.bankofamericaboycott.com. Organizer William Gheen, president of Raleigh-based Americans for Legal Immigration PAC, also argues bank officials should face federal charges for "aiding and abetting" illegal immigrants.
"Nobody is above the law, including Bank of America," he said.
Subjects, BoA, BofA, illegal aliens, credit cards, boycott, Bank of America, Americans, illegal immigration, invasion, border security, Federal Felony, stop the banks!
2/17/2006
RICK ROTHACKER
The Charlotte Observer
The boycott is the latest backlash against a credit card the Charlotte bank is testing in Los Angeles that requires little or no credit history. Customers must have a checking account in good standing with the bank, but they don't necessarily need a Social Security number to sign up.
Two Republican members of the House Financial Services Committee also told Fox News on Friday they would ask for hearings on the program, citing concerns about promoting illegal immigration and identity theft.
Bank of America spokeswoman Betsy Weinberger said the card was not "specifically developed or marketed for illegal immigrants," adding the initiative allows customers to build a credit history with a "leading bank."
Eager to find new customers among the nation's burgeoning ranks of Hispanic immigrants, U.S. banks are increasingly offering checking accounts, money transfer services and mortgages that don't require a Social Security number. Bank of America is the first major credit card company to step into the arena.
Under the U.S. Patriot Act, designed to stop money laundering and terrorist financing after Sept. 11, banks are required to check the identity of their customers, but they don't have to determine immigration status. "Non-U.S. persons" who don't have a Social Security number can open accounts with other documents, including tax ID numbers and so-called matricula consular IDs issued by Mexico and other governments.
Banks including Bank of America, Wachovia Corp., Wells Fargo & Co. and BB&T Corp. accept matricula consular IDs.
Bank of America's new card requires an upfront security deposit of $99 and has an interest rate that can exceed 21 percent. When reviewing applicants, Bank of America uses employees to evaluate credit worthiness, instead of analyzing credit scores with computers.
Weinberger, the bank spokeswoman, said Bank of America follows Patriot Act rules with all customers. She said it is too early to tell whether the card will be expanded outside Los Angeles.
The Hispanic market is critical for Bank of America's future growth in a nation where the non-Latino population is barely increasing. Latino advocates have welcomed the company's new card, saying it helps Hispanics create a credit record necessary to build wealth and assimilate into the economy. Critics say profit-seeking U.S. businesses are encouraging immigrants to enter the country illegally, sapping the social infrastructure.
The National Illegal Immigration Boycott Coalition has previously boycotted Miller Brewing Co. over immigration issues. And a Web site called www.embargowellsfargo.com urges a boycott of San Francisco-based Wells Fargo for issuing mortgages to customers without Social Security numbers.
Gheen of ALIPAC promoted the boycott Friday on the Fox News program "Your World with Neil Cavuto" and plans to hit the talk radio show circuit. In an appearance on the Cavuto show, Reps. Marsha Blackburn, R-Tenn., and Tom Price, R-Ga., said they want hearings on the program and the rules that allow it. "One of our largest corporate citizens is turning its back on the wishes of the American people," Price said in a statement.
During the Miller boycott, about 15,000 people signed the a petition, Gheen said. He expects more to rally against Bank of America. As of Friday afternoon, more than 400 people had signed ALIPAC's petition, according to the group's Web site. Bank of America says it has more than 55 million consumer and small business customers
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