I'm sure the banks are doing this out of compassion.

www.charleston.net

Bank plan aims to stop robberies of Hispanics

Staff report


A new program at a local bank that is designed to help Hispanics who are being robbed throughout North Charleston does not require applicants to produce Social Security numbers but does require identification that satisfies provisions of the U.S. Patriot Act, according to a spokesman.
The program's requirements for qualification have drawn intense interest since it was subject of a news story earlier this week.

The Heritage Trust Federal Credit Union will open a non-interest bearing account that will not require a Social Security number from participants. The bank will require applicants to provide a government-issued photo ID and proof of residence.

"Heritage Trust is partnering with law enforcement to help the community to cut down on crime and violence," said Leslie Ott, manager of Latino Relations with the credit union.

Armed robberies of Hispanics have been an ongoing problem in North Charleston.

Some of the roughly 7,000 Hispanics in North Charleston carry cash from their paychecks in one lump sum, making them easy robbery victims.

On Monday, two men were charged with breaking into a home and robbing five men at gunpoint.

Ott said the program will help Hispanics in need.

"We strive to help the community, and we have partnered with North Charleston police to cut down on crime," Ott said.

Heritage Trust has 13 branches in South Carolina. It soon will place bilingual employees at area branches on Rivers Avenue and Goose Creek, where the Hispanic population is concentrated.

"The reason it does not require a Social Security number is due to the fact that IRS states that only the payment of dividends/ interest is to be reported to IRS," Ott said.

"We have created a very compliant acceptable ID list for Safe Accounts," Ott said. "We accept a variety of government-issued IDs, and any other IDs that we accept are in compliance with section 326 of the U.S. Patriot Act. We also ask for proof of U.S. address, such as a utility bill, car title, car registration, etc. ... We also file all proper Suspicious Activity Reports and Currency Transaction Reports when deemed necessary or mandatory."