Thread: Bank of America offering credit cards to illegal immigrants

justfred,

This is a bit on the philisophical side but in answer to whether you should be selling insurance to illegals I would ask you;

Why don't you open an office in mexico selling American insurance to mexicans?

Why not sell American insurance to foreigners in, let's say, saudi arabia, Iran, syria? Why NOT sell to terrorists if they want to get American insurance to drive legally using their forged ID's? Why not sell to Mohammed Atta and his family so their driving privileges are unencumbered by, let's say, LAWS?

Could it be because you are an American company selling insurance to Americans? Could it be that it is the lawful thing to do and unlawful to legitimize criminal aliens and let them loose on our streets? Is your company affiliated with the mob and therefore patronizes the money launderers and identity theives who use the policy to get further into our social system?

Why bother asking for a name or other info that is known fraudulent to begin with?

Why not just list everyone as Jose Doe or Ahmed Doe and set them loose on our streets?

Do you really think that these illegals will go through your insurance company when they injure or kill an American motorist? You may as well time them in advance for the 50 yd dash to get your answer up front.

Like I said, a bit philisophical but not mean spirited in any way.

Malkin weighed in on this today. There is a video clip to the Dennis Miller segment on The Factor where Miller said he closed his account with B of A......this is good. But he went to Wells Fargo.......... Not any better unfortunately.

http://michellemalkin.com/archives/006879.htm

Bank of Illegals in America backlash
By Michelle Malkin · February 15, 2007 09:02 AM

Video: Dennis Miller cashes out of Bank of America in protest of its new credit card program for illegal immigrants.

Baltimore Sun:

"At face value the program seems to be problematic," said Russ Knocke, a department spokesman. "It seems to be lending itself to possibilities of perpetrating identity theft or creating more risk for money laundering."

The bank's program, while controversial, illustrates how the business world increasingly sees the country's estimated 12 million illegal immigrants neither as lawbreakers nor essential workers but simply as customers.

Wells Fargo & Co. and Citibank have launched similar initiatives to gain new customers within the burgeoning Hispanic community.

Wells Fargo began a pilot program last year in Southern California to offer home mortgages to immigrants who have lived in this country for two years. The customers are allowed to identify themselves using individual taxpayer numbers issued by the Internal Revenue Service instead of Social Security numbers. That's the same system Bank of America customers can use to obtain credit cards under the new program.

"We are also looking at the possibility of offering unsecured credit cards to customers who may not have Social Security numbers," said a Wells Fargo spokeswoman, Mary Trigg.

Bank of America, now based in North Carolina but once headquartered in San Francisco, still has its largest retail operations in California and is the biggest bank for Hispanics in the country, said Richard Bove, who follows the industry for Punk, Ziegel & Co.

While the emphasis might pay off, "the political backlash is going to be substantial," he said.

That seemed to bear out Tuesday, after the program was reported in the Wall Street Journal.

"It helps to further embed illegal immigrants into American society," said Steven Camarota, director of research for the Center for Immigration Studies. "It makes amnesty a fait accompli."

Tancredo said he sent a letter to U.S. Attorney General Alberto Gonzales and Department of Homeland Security Secretary Michael Chertoff asking them to look into the program.

"I hope the administration will shut down this reckless and illegal program before Bank of America extends a line of credit to a potential terrorist," said Tancredo, a leader of the anti-illegal immigration forces in Congress.

A Justice Department official declined to comment.

Several military readers e-mail that the Bank of Illegals in America has a contract with the DoD. Reader D. writes:

Earlier today, after reading the news about Bank of America, I began my latest mission as an Air Force colonel. This one isn't in Afghanistan or Iraq. Rather, it is an attempt to convince the Department of Defense to cease using Bank of America as our official travel card provider. We in the military are required to hold a credit card issued by BOA for all official travel. Anytime I go to Baghdad or Baltimore, Anbar or Annapolis, I have to use it for lodging (the Anbar Al Jihad Hilton is first rate, ambiance magnificent), food and rental cars, etc. Because DoD has a contract with BOA, we don't have a choice of what card to use, if we expect to get reimbursed for our expenses - well, ammo, body armour and other minor conveinences are provided free, but you get the idea... Anyway, that BOA is providing cards to individuals that are in this country illegally clearly violates laws, as you point out, but more so, what potentially fiscal risk is BOA taking by issuing them cards? I wonder how sound the finances are of those who are entering our country illegally. Why would a "temporary worker" feel at all inclined to pay back money run up on a credit card? What potential impact does that have on the soundness of BOA fiscally? Should a bank who is the single issuer of travel cards for all of DoD along with several other executive branch departments, also be providing illegal aliens credit cards?

Reader Kyle writes:

After waiting on the phone for 30 minutes to speak with a Bank Of America's customer service rep, I informed him that due to their recent decision to offer credit cards to illegals I wanted to cancel my account or file a complaint. After he tried to talk me out of doing that claiming they are documented...but conceding that they're not "legal" US citizens I finally got the address to file a complaint. If you can please share the address with your readers so they'll know who to contact: Thanks! Bank of America Office of the Chairman/President DE5-019-02-03 Wilmington, DE 19884

My prediction: The Bush administration will continue to do what it has done while the nation's major banks pander to illegal alien customers--nothing. It's the Bush Treasury Department, after all, that set the tone with its approval of the matricula consular phony baloney ID card used exclusively by illegal aliens--despite the warnings of law enforcement and homeland security officials.

Hmm... That's new information (about an ITIN being required in lieu of an SSN). Has anyone verified that? If that's true, then the ONLY reason for these accounts would be for illegals, and the program would be of no benefit to Americans who don't want a number.

Crocket,

Hmm... That's new information (about an ITIN being required in lieu of an SSN). Has anyone verified that? If that's true, then the ONLY reason for these accounts would be for illegals, and the program would be of no benefit to Americans who don't want a number.

That is correct as reported by Lou Dobbs last night and many other news outlets.

This is a promotion to illegal mexicans and otm's only. The ITN's are handed out without ANY verification of identity as well.

Originally Posted by CrocketsGhost

Originally Posted by JuneS_Reston

Originally Posted by CrocketsGhost

Well, as it happens, I AM a native born American who has a B of A account and has had one since they merged with NationsBank, which bought out NCNB, which bought out Republic National Bank, which bought out the S&L where I originally opened the account. If you can provide me with the information on the various mortgages, credit cards and other programs offered to illegal aliens, I would be more than happy to go down and see how much of a double standard is being applied by finding out which, if any, of those plans I qualify for. Do you know if these programs are available in Texas?

The details of the credit card account, rights and restrictions are detailed in several financial news reports on the internet as well as yesterday's Wall Street Journal report which I posted earlier today.

Currently, I believe this "program" is being tested only in California. However, B of A plans to take it nationwide by year end.

Since this was first reported - yesterday - there has been a tremendous backlash - not only regular folks, but business and financial experts as well. There is a probability that this program may go no further than California if the pressure continues.

One point that no one has raised in this thread is that B of A has branch offices in most of the countries where these illegal aliens are citizens. There is no reason why they should be issuing credit cards in the US, using a lower qualifying standard, when these very same people can apply for a credit card in their country of citizenship legally. We must presume B of A's target market here in the US would not qualify in their own countries, which raises further concerns about this program.

June, since you seem to be well informed with respect to this program, perhaps you can answer a question I have not yet seen answered. The claim is that B of A is specifically creating this program for illegal aliens. Is that B of A's characterization or is that a presumption. If B of A is not saying that the program is specifically for aliens or immigrants, upon what direct evidence are the authors of these articles relying to make that determination? Just curious...

B of A clearly states they are targeting the Hispanics who do not have a Social Security Number or credit. No where on its site does it state the program is intended for illegal immigrants. That would be a little silly don't you think?

Originally Posted by nittygritty

I saw a Congressman on the Neil Cuvato show today on Fox news, say this is being done with Bush's ok and with most of the democrats, only the Republicans were trying to stop this, tell me again why we had to change from a Republican majority to a democratic one?

Do you remember which congressman?

Originally Posted by Gabriel

Originally Posted by cvangel

I just called B of A to protest this. They said the credit cards are fully insured and the people who apply for them have to have the money up front. For a $500 credit card they have to have $500. So I brought up the pilot program for home loans they did last year and that I read they plan to expand it.

I told them I'm shopping for a home and I will keep my 2 accounts with them (all true) so I meet the requirements that they have for illegal immigrants. But when I apply for a home loan I will refuse a credit check. The guy said I have to have a credit check. I said "OH NO, no double standards here. You can't have higher requirements for citizens than illegals" I further told him if I was refused financing on that basis or for credit I will sue them for discrimination. The guy got exasperated and kept trying to go back to the credit cards. I kept steering him back to double standards and promotion of illegal activity. At the end he said he understood what I was saying. I told him it's important that B of A understand that point because I surely won't be the only citizen who would take action like that.

A private company does not have to give anyone a loan even if your credit score is 900 and you are a millionaire. You can argue discrimination, but proving so is a different story. Besides, what is your remedy you are seeking?

Your point is?

Originally Posted by CrocketsGhost

Hmm... That's new information (about an ITIN being required in lieu of an SSN). Has anyone verified that? If that's true, then the ONLY reason for these accounts would be for illegals, and the program would be of no benefit to Americans who don't want a number.

B of A sent me an email and confirmed that an ITIN is required. IRS states that an ITIN is issued for the sole purpose of enabling individuals who do not qualify for Social Security numbers to meet their tax filing responsibilities. ITINS are not valid for identification outside the tax system.

ITINs do not:

• Authorize an individual to work in the US
  Endorse an individual's legal status in this country, or
  Entitle an individual to Social Security benefits or the Earned Income Tax Credit.

Other than reporting interest to the Federal Government, this document serves no useful purpose for B of A, unlike a Social Security number which is used for all the things an ITIN is not.

Originally Posted by JuneS_Reston

Originally Posted by CrocketsGhost

Hmm... That's new information (about an ITIN being required in lieu of an SSN). Has anyone verified that? If that's true, then the ONLY reason for these accounts would be for illegals, and the program would be of no benefit to Americans who don't want a number.

B of A sent me an email and confirmed that an ITIN is required. IRS states that an ITIN is issued for the sole purpose of enabling individuals who do not qualify for Social Security numbers to meet their tax filing responsibilities. ITINS are not valid for identification outside the tax system.

ITINs do not:

• Authorize an individual to work in the US
  Endorse an individual's legal status in this country, or
  Entitle an individual to Social Security benefits or the Earned Income Tax Credit.

Other than reporting interest to the Federal Government, this document serves no useful purpose for B of A, unlike a Social Security number which is used for all the things an ITIN is not.

Here's a little secret for you that I got DIRECTLY from the IRS: The SSN, ITIN, TIN, and the number provided to religious objectors such as the Mennonites are all issued by the same office and have exactly the same purpose. The distinctions are artificial. What they are is not "tax numbers," but rather franchise numbers. Each franchised entity may be collateralized by the federal corporation. The number differ only in to whom they are issued. The SSN is issued to "individuals" (which refers to so-called individual franchises - which is the status you are claiming when you apply for one). The TIN is issued to business organizations, including sole proprietorships, partnerships, trusts and corporations. The ITIN is provided to non-domestics who seek domestic status but whose status has not been finalized, or for domestics who for one reason or another cannot or do not wish to obtain the SSN. The ITIN is actually the number issued to Mennonites, Amish and other religious objectors though it is usually referred to as the "alternate tax indentification."

So the notion that the SSN is somehow different than these other numbers is patently absurd. They are issued by the same agency under the same conditions and have the same legal effect. Each is a federal charagma conferring federal franchise status and reguiring remittance of duties. Each also allows access to specific federal benefits paid from the same general fund.

B of A says this would be a means for building credit. Does anyone know how without an SS# one builds credit? On what number would B of A report to a credit agency the status of an account?