Bank of America's New Credit Card Targets Illegal Immigrants, page 1

posted on Feb, 13 2007 @ 08:56 AM

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NEW YORK — 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.

www.foxnews.com
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.

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

Please visit the link provided for the complete story.

I saw this on the news this morning and was in shock.
I feel the Illegal Immigrant problem is spiraling out of control. Drivers license,credit cards,welfare,workers comp.
Whats the point anymore?

souls

posted on Feb, 13 2007 @ 02:16 PM

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How is it that it is spiraling out of control? I think it is a good idea. If there are people that by law are considered "illegal", living in this country, It's a very good idea to provide them with the same basic rights as driving licenses and such. They are not going anywhere, so what you want is that they remain unidentified and fly under the radar as they have for years. You should understand that the majority of these people are honest, hard working people who like you and your ancestors and mine, seek a better opportunity and life. You are not complaining when the European forefathers murdered the Natives for their land.

dgtempe

posted on Feb, 13 2007 @ 02:20 PM

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Maybe its a sting operation...Give them a card then pick them up
in the middle of the night.

RetinoidReceptor

posted on Feb, 13 2007 @ 02:25 PM

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If Bank of America wants to improve the illegal's plight and better their lives, they should set up their little program in Mexico. What a dumb ass retort made by Bank of America. All they want is the money, and the immigrants here don't have the knowledge on how not to get murdered by the banks.

souls

posted on Feb, 13 2007 @ 02:27 PM

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They don't need to know. The generations that are born here will help them out.

RetinoidReceptor

posted on Feb, 13 2007 @ 03:04 PM

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Originally posted by souls
They don't need to know. The generations that are born here will help them out.

Sure, and what about those who have very little children (which a lot of them have). And you are right, I am sure most teenagers know the ins and outs of micro economics.

ferretman2

posted on Feb, 13 2007 @ 03:04 PM

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The are not 'Honest'..............

If they were they would of come the the United States of America LEGALLY!

The fact that they are here illegally and hide, shows that they are dishonest.

What part of ILLEGAL IMMIGRANTS don't some of you understand?

Aren't there laws regarding immigration?

Isn't there a LEGAL way to enter the USA?

souls

posted on Feb, 13 2007 @ 03:09 PM

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Originally posted by RetinoidReceptor

Originally posted by souls
They don't need to know. The generations that are born here will help them out.

Sure, and what about those who have very little children (which a lot of them have). And you are right, I am sure most teenagers know the ins and outs of micro economics.

Mainly their kids but what I was saying was the institutions that exist today to help immigrants get oriented in the laws of this state. They derive from the descendants of the first generations of immigrants. You'd be surprised, their are some smart kids out there who know the basics of micro economics. They are going to the same schools as you and me!

souls

posted on Feb, 13 2007 @ 03:15 PM

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Originally posted by ferretman2
The are not 'Honest'..............

If they were they would of come the the United States of America LEGALLY!

The fact that they are here illegally and hide, shows that they are dishonest.

What part of ILLEGAL IMMIGRANTS don't some of you understand?

Aren't there laws regarding immigration?

Isn't there a LEGAL way to enter the USA?

That ties in to the fact the Government of Mexico is not doing there job. They are honest people, and human. As a human, in order to survive, you will do what ever is in your hands to prevail. Yes there are ways to enter the U.S. legally, but most of these people do not have the monetary resources to achieve that. And they are illegal because that is the label. And they hide because they are scared of being put back into a life with no advancement.

RetinoidReceptor

posted on Feb, 13 2007 @ 03:20 PM

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Originally posted by souls[/]
Mainly their kids but wha saying was the institutions that exist today to help immigrants get oriented in the laws of this state. They derive from the descendants of the first generations of immigrants. You'd be surprised, their are some smart kids out there who know the basics of micro economics. They are going to the same schools as you and me!

First off. Why should we give amnesty to these illegal immigrants? My friend was born in England, but lived in Saudi Arabia most of her life and she and her family have been waiting years for a green card. Yet Mexicans who just jump over the border should be given a green card...because they pick fruit?

Second off. Most kids in the US don't even know about micro-economics, so you saying that these immigrant's kids can help them is foolish and makes no sense. The banks are trying to make a quick buck on ignorant people. That's all.

souls

posted on Feb, 13 2007 @ 03:33 PM
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Most kids , but teenagers take courses in economics. At night grade through graduation I remember taking courses in finance, economics, and government. The differences between US and Mexican governments are slim so there isn't much that needs to be learned. Understand that immigration is not all Mexican descent. One point I'd like to stress is your narrow mindness and ignorance in the fact that you think they all come here to pick fruit. I know some people who are here "illegaly" since birth. To this day there are stuck because there is no opportunity to make them "legal" and they have to live through life with this restriction. They go to school, get a degree and then what. They are stuck because they can't obtain a job, they can't travel out of the country, they can't even drive a car. And just as your friend, there are thousands of people, "Mexican" people, who are in the same process.

ferretman2

posted on Feb, 13 2007 @ 04:22 PM
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Souls -

That's not a label.

The US is a country of laws.

There is a legal way to enter the United States.

'They' choose to ignore US law and come here illegally.

You mentioned that people will do anything to survive....that is correct....but here in the states we had our Civil War.

Maybe all these people should go back home and work on getting their goverment straightened out by having a revolution!

Maybe if 'they' were standing up and fighting for themselves they would receive more support from Americans......now all they are doing is draining and destroying a system which Americans died creating.

XphilesPhan

posted on Feb, 13 2007 @ 04:31 PM
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Screw it..I give up..the government doesnt give a damn, I dont either....so lets go ahead and follow this to the logical conclusion.

We need $200 billion dollars appropriated from congress to improve the services that these illegal immigrants need. Schooling, medical etc... also... the borders need to come down, all those working for the border patrols need to be fired and laid off, we dont need borders anymore so thats a waste of money....I dont think we need the national guard anymore either. Also we ant the legalization of marijuana, heroin, coc aine, ecstasy, etc. DEA needs to be disbanded as well.

as a matter of fact we need to get rid of several government organizations including homeland security.

JacKatMtn

posted on Feb, 13 2007 @ 04:49 PM
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I would bet that if BofA starts to lose many accounts because of this "business" decision, they might consider scrapping this program.

This is the first event concerning the illegals that citizens actually can make a difference, we shall see how many step up and send B&A a message that enough is enough.

Should this only lead to higher profits for BofA, you will see many other banking institutions implement programs of their own to grab some of the action.

$99 up front fee multiplied by let's say 1 million card holders (hypothetic) = $99mil up front

28% apr (I believe) and your talking big bucks, morally wrong or not looks like B&A is willing to risk the criticism for the bottom line.

I don't bank there and I can now say I never will, Bank of America

My hiney..

[edit on 2007/2/13 by JacKatMtn]

Digital_Reality

posted on Feb, 13 2007 @ 05:04 PM
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Originally posted by souls
How is it that it is spiraling out of control? I think it is a good idea. If there are people that by law are considered "illegal", living in this country, It's a very good idea to provide them with the same basic rights as driving licenses and such. They are not going anywhere, so what you want is that they remain unidentified and fly under the radar as they have for years. You should understand that the majority of these people are honest, hard working people who like you and your ancestors and mine, seek a better opportunity and life. You are not complaining when the European forefathers murdered the Natives for their land.

Even if they are honest,hard working people your missing the point. THEY ARE ILLEGAL! There is a process in witch they can become American citizens and do it the right way. Why reward these people and break the rules for them because they broke the law and are here illegally. The process for becoming an American is becoming useless. My tax dollars are paying for them to live on well fare and its not fair that I pay taxes and they don't have to. They still get to reap the benefits of being an American without following the rules and paying taxes.That is not honest !
If they were honest they would be living in America the right way. As a legal citizen paying taxes. And if they want better opportunity they need to fix their problem in their own country not wreck our economy. This country is turning into a free for all and it is going to ruin it for all of us if someone does not put a stop to it. I'm not saying I don't want them here. I just don't want them here illegally living the American dream without contributing to it.

frayed1

posted on Feb, 13 2007 @ 05:14 PM
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How does Bank of America intend to collect ??

Sure there are illegals who would dutifully send in their payments, but a lot of the guys that I worked with were using a made up or borrowed social security number, and not always their real names.....all had 6 kids, so there were no taxes deducted, and they'd be gone before April 15! HOW will BoA get their money from those guys??

I'm with whoever suggested that it's a sting op.

Digital_Reality

posted on Feb, 13 2007 @ 05:16 PM
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And also I hate it when people try to take the humanitarian approach to this situation."They are human beings","They just want a fair shot","they need love too" blaa blah blah. They have a country that is royally screwed because of how they do things. These excuses do not sway my opinion about them being illegal. It is just a lame distraction to use our system and media to feel sorry for them and take mercy on these poor people so they can trash our country. I could give two shi*s about these illegals because they know what they are doing wrong.The American people are being had!

citizen smith

posted on Feb, 13 2007 @ 06:03 PM
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Originally posted by Digital_Reality

...these immigrants generally have not been able to get major credit cards...

Please visit the link provided for the complete story.

Aside from the immigration issue, what stands out is that a major bank is lowering the bar for credit applicants. Even here in the UK, banks are backing what is known as 'adverse lender' credit, you may not have the greatest, or even any credit history, so the interest rates on such cards are set at a far higher rate with far lower borrowing rates.

As the housing market slows and attendant 'positive equity lending' is beginning to be squeezed due to current debtors unable to sevice any more debt, financial institutions are looking at a previously 'untouchable' demographic of potential debtors.

Credit-slavery is huge business, and if there's money to be made from other people's avarice, then all the better for the Bank of America

thedigirati

posted on Feb, 13 2007 @ 06:44 PM
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Bank of America is only a symptom of a larger problem, wanna curb it? have the marijuana laws tied to the immigration bill, ( it's part of "their" culture right?) I mean if they can break "little" laws what kind of message does that really teach them, or US? No wonder the Govt is full of crooks.

Luxifero

posted on Feb, 13 2007 @ 06:47 PM
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Mexicans simply jump the border due to geographic regions. Those Saudis could if America was situated right beside them I'm sure.

Regardless, the legality of all of this means nothing when the government itself cares little for legality.

Luxifero