Thread: Bank of America should rethink credit for illegal immigrants

http://www.currentargus.com/ci_5277548

Bank of America should rethink credit for illegal immigrants
The Current-Argus
Carlsbad Current-Argus
Article Launched:02/21/2007 09:45:12 PM MST

A corporation should show some sense of obligation to the society that supports it and a willingness to uphold that society's laws. Bank of America shows no such responsibility with its plan to issue credit cards to illegal immigrants.
The bank announced plans last week to begin offering credit cards to those without Social Security numbers or credit histories. People who don't have Social Security numbers are usually illegal immigrants.

It does not seem to matter to this huge financial services corporation that the country for which it is named faces a serious problem with illegal immigration.

There are at least 11 million illegal immigrants currently in America. More continue to arrive here in violation of our laws. This poses problems for the economy and for government services and causes cultural pressures.

Bank of America does not care that its actions will make it even easier for illegal immigrants to live here, thereby motivating more to come.

The company says its program, tested in Los Angeles where there is a large portion of illegal immigrants, doesn't violate any U.S. laws.

The bank also says its only motivation is to serve the unmet needs of potential customers.

What that really means is that Bank of America has found a segment of the market that isn't currently being exploited by credit cards.

That certainly can't be allowed. And if the bank can charge extra-high interest rates by issuing these high-risk credit cards, it'll be even better for corporate profits.

The bank will be making America's illegal immigration problem worse. It will be exploiting mostly poor people by sucking them into high-interest credit card debt. But the bank will be expanding its business, which is all that really matters.

"These people are coming here for quality of life, and they deserve somebody to give them a chance to achieve that quality of life," a bank spokesman told The Wall Street Journal.

This is about quality of life, all right. But the quality of life of illegal immigrants isn't likely to be enhanced by credit card debt. And the general quality of life in this country isn't likely to be improved by more criminal behavior in the form of illegal immigration.

With Bank of America being supported by the likes of the US Treasurer, what do they need to worry about---follow this:

http://www.alipac.us/modules.php?name=F ... ic&t=55112

I work for a bank and just took our yearly Bank Secercy training. In the course, it states a federal law that bank can only open accounts with a SSN or a goverment issued ID( I took this to mean US ID). So I don't know how these banks are getting away with this.

The bank also says its only motivation is to serve the unmet needs of potential customers.

What a LOAD OF DONKEY DOO!!!

This is all about GREED AND PROFIT, as well as encouraging criminal behavior!

Redbloodedamerican:

Hey, welcome aboard! Yes, it's baffling to say the least - although with some of the other big banks doing the same thing for the last couple years, well, it sounds like just clever parsing of legal language (the Patriot Act catches most of the discussion seems like).

Thanks for stopping in. And if you have the time and are so inclined, feel free to jump in and help. Feel free to sign the petition - currently at 11,200+ signatures are growing : http://www.bankofamericaboycott.com

A corporation should show some sense of obligation to the society that supports it and a willingness to uphold that society's laws. Bank of America shows no such responsibility with its plan to issue credit cards to illegal immigrants.

Absolutely! If you can't work within that parameter then go the hell away. You can not do business with us and at the same time undermine our country. This is not a hard concept to understand. You can not put your quest for dollar bills ahead of our way of life, our Constitution and our families.

Does anybody abide by the laws anymore, I take it that the laws are now only for the middle class citizen.

Originally Posted by Redbloodedamerican

I work for a bank and just took our yearly Bank Secercy training. In the course, it states a federal law that bank can only open accounts with a SSN or a goverment issued ID( I took this to mean US ID). So I don't know how these banks are getting away with this.

From what I hear the bank has found a loophole within the Patriot Act that allows them to do this.

"These people are coming here for quality of life, and they deserve somebody to give them a chance to achieve that quality of life," a bank spokesman told The Wall Street Journal.

Give them...you mean like in addition to free healthcare, food stamps and the "no punishment required for breaking the law illegal alien card". Give 'em a one way bus ticket home!