Bank of America:Aiding and abetting?

Flatbutt1 · 02-13-2007, 03:07 PM

BOA is apparently offering bank credit cards to unregistered immigrants. Somebody please help me understand why or HOW a bank can legitimately offer credit cards to an illegal immigrant.

How is this even possible? Is it me? Am I really that stupid? Aren't these people criminals in some way? If the bank issues them a CC are they not aiding and abetting criminal activity?

jezz this immigration **** really is p1ssing me off.

on-ramp · 02-13-2007, 03:10 PM

What are the requirements to get a BOA credit card? I dont think BOA will invest the time/effort to determine if someone is illegal. They dont care.

berettafan · 02-13-2007, 03:12 PM

How? Does not one need a SSN to get a credit card?

Jim Richards · 02-13-2007, 03:19 PM

BoA execs should go to jail.

Zeke · 02-13-2007, 03:20 PM

Quote:

Originally posted by berettafan
How? Does not one need a SSN to get a credit card?

And how hard is it to get a SSN? (not too hard)
These are likely secured cards. Anyone can get one, even someone with a recent BK.

island_dude · 02-13-2007, 03:22 PM

Huh? Why does it matter? Last I checked, people all over the world are able to have credit cards, not just Americans. I am not aware of any specific requirements for citizenship to have a credit line extended.

stevepaa · 02-13-2007, 03:24 PM

They would probably offer one to your dog if you put the dog on your car title.

The banks offer cards to everyone, even after you die.

craigster59 · craigster59's Garage

I heard on the radio this a.m. that you need to have an account w/ BofA for min.of 3 months, no overdrafts. Not sure if it's secured, but the APR is above 21%. And yes, it is aimed at "undocumented" citizens.

fingpilot · 02-13-2007, 03:29 PM

No SSN required. THE ONLY REQUIREMENT is that they have a checking account for 3 months. And the 'local discretion' of the branch manager.

Is directly controlled locally. The entire thing can be conducted in espanol. Is a direct affront to the immigration laws of this country.

Jim Richards · 02-13-2007, 03:30 PM

You and I cannot open a bank account without a valid SSN. Patriot act, IIRC.

Flatbutt1 · 02-13-2007, 03:35 PM

Quote:

Originally posted by island_dude
Huh? Why does it matter? Last I checked, people all over the world are able to have credit cards, not just Americans. I am not aware of any specific requirements for citizenship to have a credit line extended.

It matters because they are here illegally. If the bank becomes aware of their status as illegal should they not report these people?

dtw · 02-13-2007, 03:36 PM

Link to offer, listing specific requirements, please? Here, this should help:

http://www.bankofamerica.com/creditcards/?context_id=all_cards&RequestTimeout=120&cm_sp=CRD-_-All%20Cards-_-View%20All%20Cards

porsche911girl · porsche911girl's Garage

That's a real shame. I'm a BoA customer and have been for many years. I've had nothing but good relations with them...

berettafan · 02-13-2007, 03:46 PM

Quote:

Originally posted by Jim Richards
You and I cannot open a bank account without a valid SSN. Patriot act, IIRC.

So how is this avoided in this scenario?

berettafan · 02-13-2007, 03:57 PM

The workings behind bank credit cards, particularly those given to high risk folks, are VERY interesting.

A friend who used to do audit work in banks shared a story about a local bank buying bad debt for .05 on the dollar and issuing secured cards to the debtors with VERY high interest rates. The bank offered to show 1/2 of the debt originally owed by the debtors as paid off and issue the credit card for the remaining half.

The debtor ended up with a new credit agreement for 1/2 of what they originally owed and -0- available credit on their newly issued card. As the card was paid down available credit went up. All of a sudden the bank had turned 10 million in bad debt into 5 million in good debt which was now worth many times what they originally paid for it.

Kinda like sending a clapped out Nova to Earl Scheib and calling it restored. Ugly, ugly business.

Jim Richards · 02-13-2007, 04:00 PM

Quote:

Originally posted by berettafan
So how is this avoided in this scenario?

Don't allow this scenario, or throw BoA execs into jail.

berettafan · 02-13-2007, 04:01 PM

Jim i believe you're correct about the Patriot Act so my question was how are these bank accounts being opened?

on-ramp · 02-13-2007, 04:03 PM

Quote:

Originally posted by berettafan
Jim i believe you're correct about the Patriot Act so my question was how are these bank accounts being opened?

i think they open bank accounts with bad SS #s and the banks don't really check .no worth their time/money...

berettafan · 02-13-2007, 04:05 PM

I don't imagine the banks have a choice on verifying SSNs? I can verify this tomorrow but perhaps there is a banker or two on the board that can detail this for us?

TerryH · TerryH's Garage

I've had a business account with BofA for 17 years. In the last 5 years, I've received 2 unsolicited credit cards in the mail. I'm talking real cards with $20K limits, not applications. They weren't BofA on the face, but backed by BofA. Of course they were apologetic over the phone and cancelled everything, but I sure this practice is illegal.

Crap like this can affect a persons credit rating. It doesn't take much to upset the apple cart.

I emailed the California attorney general and recently got a response to follow up with a bank controlling agency in Texas somewhere.