http://www.nctimes.com/articles/2007/03 ... 3_8_07.txt
Is that the sound of a bubble bursting?


It has been said that if one hangs around long enough, every prediction one makes eventually will come true. That appears to be the case in the housing market, where those who have been predicting a major price decline since the late 1990s finally can strut around and say "Told ya so." 33 Comment(s)
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Bilbray co-sponsors bill aimed at banking rights of illegal immigrants

By: LORELL FLEMING - Staff Writer

NORTH COUNTY ---- U.S. Rep. Brian Bilbray, R-Solana Beach, co-sponsored a bill introduced Wednesday that would block an effort by some banks to issue credit cards and open accounts for people who don't have Social Security numbers ---- most of whom are thought to be illegal immigrants.

The bill, which would be called the Photo Identification Security Act, would name specific forms of documentation needed to open a bank account or get a credit card. Those forms of documentation listed in the bill are a Social Security card with a government-issued form of identification such as a state driver's license, or a U.S. or foreign passport, or a U.S. Citizenship and Immigration Services photo identification card.

Matricula consular cards, a form of identification issued by the Mexican government, would not be accepted for starting accounts or credit cards, the bill also states. The card, which essentially states only that the holder is a Mexican citizen, has been accepted by some banks as identification for loans and other services, though there's no U.S. law requiring it or excluding it.


This refuels the controversy sparked in February when Bank of America unveiled its pilot program to give credit cards and start accounts for people without Social Security numbers.

Representatives of the California banking industry could not be reached for comment Thursday.

Bilbray, who co-sponsored the bill (House Resolution 1314) with Rep. Marsha Blackburn, R-Tenn., defended the proposed legislation during a telephone interview Thursday afternoon.

"It's pointed at organized crime, criminals and terrorists, to identify who is moving money in this country," Bilbray said. "There's a huge loophole in the Patriot Act. The law obviously was intended for us to know who's moving capital.

"Matricula cards are unsecured," Bilbray added. "Anyone can get this card."

Enacted shortly after the 9/11 terrorists attacks in 2001, the anti-terrorism-based Patriot Act brought about several sweeping changes, such as widening the government's wiretapping and surveillance abilities, that provided more tools for U.S. authorities.

"I've never heard even one American citizen or legal residents complain about having to show these forms of ID when opening a bank account," Bilbray said. "Why should illegals?"

Escondido resident Consuelo Martinez, a human rights activist, said Thursday that she believes illegal immigrants need to have identification, such as the ones mentioned in the bill.

"Unfortunately, they're not able to get those pieces of ID easily because of the way the immigration law works," Martinez added. "Why is there a huge distrust of the Mexican matricula card? I haven't heard of a scam involving fake matricula cards."

Although she does not have one and has not tried to get one, Martinez said, she believes it's difficult to get a matricula consular card.

"I have confidence that the Mexican government doesn't give it out to just anybody," she said. "There's a bureaucratic process you have to go through to get it."

She mentioned the lengthy process she went through to get a dual citizenship in Mexico and America four years ago. The process, which required her to furnish lots of personal documents, took her about a year to complete.

Meanwhile, Latino immigrants in America are proving to be a desirable source of new customers for banks. According to results from a survey released in October by the Inter-American Development Bank ---- an internationally owned bank that promotes economic development in Latin America ---- Latin American immigrants are earning an estimated total of $500 billion annually, much of which reportedly stays in the American economy. Yet many of those Latino immigrants with earning power do not have bank accounts.

When asked whether the bill would interfere with the banking industry's business pursuits of increasing its share of this customer base, Bilbray said, "It is illegal for people to knowingly profit off of illegal immigrants."

If that's the case, then just about everyone is breaking the law, Martinez said.

"Somewhere, somehow, people are connected to illegal immigrants and the services they provide," she also said. "You may not know, for example, what restaurant they work at or which offices they are cleaning after you are done with work."