How is this not illegal???

[jeremy885]

http://today.reuters.com/news/articl...src=rss&rpc=22

BofA aims new credit card at illegal immigrants: report

NEW YORK (Reuters) - Bank of America Corp. has begun offering credit cards to customers without Social Security numbers, typically illegal immigrants, the Wall Street Journal reported on Tuesday.

In recent years, banks across the country have been offering checking accounts and even mortgages to the nation's fast-growing ranks of undocumented immigrants, most of whom are Hispanic, the paper said, adding these immigrants generally have not been able to get major credit cards.

The new Bank of America card is open to people who lack both a Social Security number and a credit history, as long as they have held a checking account with the bank for three months without an overdraft, the Journal said.

Bank of America tested the program last year at five branches in Los Angeles, and last week expanded it to 51 branches in Los Angeles County, home to the largest concentration of illegal immigrants in the U.S., the Journal said.


The bank hopes to roll out the program nationally later this year, the paper said.

A Bank of America spokesman was not immediately available to comment.

How does this not violate the Patriot Act? I have to give my SSN and a copy of my driver's license to bank in Arkansas, just because my company uses it as a depository account.

[tbl]

I wonder if this would necessitate changing banks...

[jeremy885]

I was thinking the same and I really like BOA.

[Frozen Sooner]

http://today.reuters.com/news/articl...src=rss&rpc=22



How does this not violate the Patriot Act? I have to give my SSN and a copy of my driver's license to bank in Arkansas, just because my company uses it as a depository account.

Not only the PATRIOT Act, if the depository accounts are interest-bearing it violates all kinds of IRS regulations as well.

Either there's something that the story isn't telling us or BofA's lawyers found a loophole.

[85Sooner]

Our Corrupt Government does not give a rats a$$ that illegal aliens are afforded more rights and anoninimity than US citizens. I am collecting rope.

[Widescreen]

Basically, BoA has decided that laws are less important than profits. I hope every single one of these credit accounts default.

[JohnnyMack]

Basically, BoA has decided that laws are less important than profits. I hope every single one of these credit accounts default.

They don't give a ****, they'll sell off the bad debt to collection agencies and up you and I's interest rates in order to make up the shortfall. Sounds good, doesn't it?

[yermom]

if the illegal immigrants can do it, the terr'ists can too

i really need another identity...

i wonder how easy it is to ID theft someone without an SSN

[OklahomaTuba]

Maybe they can change their name to Bank of Mexico??

[royalfan5]

Maybe they can change their name to Bank of Mexico??

They are just going back to their roots. They started as the Bank of Italy, catering to immigrants.

[Dio]

Well, we always gripe about the illegals not trying to "fit in"- nothing fits in in America like being up to your *** in debt.

[Vaevictis]

They don't give a ****, they'll sell off the bad debt to collection agencies and up you and I's interest rates in order to make up the shortfall. Sounds good, doesn't it?

Switch banks and credit card issuers.

I'm in the process of moving all of my stuff to USAA 'cause I'm sick of BoA's ****.

[OklahomaTuba]

They are just going back to their roots. They started as the Bank of Italy, catering to immigrants.

Ahh.

Well maybe they should go back their then, since they don't mind helping people break American law.

[royalfan5]

Ahh.

Well maybe they should go back their then, since they don't mind helping people break American law.

I don't think they ever left San Francisco. That's where they started.

[jeremy885]

if the illegal immigrants can do it, the terr'ists can too

i really need another identity...

i wonder how easy it is to ID theft someone without an SSN

Or bail jumpers, prison escapees, and pretty much anyone who wants to stay under the radar.

[Chuck Bao]

Credit card companies are evil and should be put down.

They're allowed to charge paying customers usury rates and they don't care if one-fifth go bad. They still make out like bandits.

I pay my bills. I don't want to subsidize those who don't pay their bills or those who couldn't find credit except from a loan shark.

I pay 19% on my credit cards. Anyone pay cheaper rates?

[SoonerJack]

^ yeah, 0%. I never carry a balance. Thank you very much, Discover, for financing my new receiver from Crutchfield!

[JohnnyMack]

I pay 19% on my credit cards. Anyone pay cheaper rates?

We have one at 6%.

The days of banks falling all over themselves to give you great rates has gone for now I believe.

[OklahomaTuba]

The only card I like besides my debit card is my AMEX card.

I have to pay that thing off every month.

[GottaHavePride]

I don't think they ever left San Francisco. That's where they started.

Yeah, they were talking about that on a History Channel thing about the 1906 earthquake in San Francisco. Most banks got messed up and didn't have any accessible money in the aftermath, but the guy that ran Bank of Italy happened to have a pretty decent supply that he could get to,so he was pretty much the only source of loans in S.F. at first. Made TONS of money, changed the name to BoA as a marketing ploy.

The show also noted that there were virtually no building codes in S.F. until the 1950s, so when the next REALLY big quake hits out there basically half the city is ****ed.