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Why is Bank of America giving credit cards to illegals without a Social Security Number? Because the U.S. Government requires them to do so...

“The federal government is all but saying” that it’s OK... Spitzer said the move is a logical extension of services already provided by banks, which under federal laws must give checking and savings account services to illegal immigrants, if they have IRS numbers or the Mexican government’s “matricular” identification card. “We’re bound to see more of it,” said Bruce Spitzer, a spokesman for the Massachusetts Bankers Association. “It only seems natural.”

Well, the move by BofA sent shockwaves through the Nation last week, from ordinary citizens to Immigration Control Groups...

Mark Krikorian, executive director of the Center for Immigration Studies, which supports a crackdown on illegal immigrants, ripped into Congress and President George Bush for “all but” forcing banks to provide such services. “The government has sent explicit messages that it’s OK,” he said. The entire banking system makes it easier for terrorists to apply for credit cards and funnel money through accounts...

Bank of America is defending itself from the stink created by wading into the most controversial, both-sides-of-the-aisle-coming-together political mess that this country has seen since the 3 months after 9/11 (how Kenneth Lewis can keep his job after this, when shareholders see how many accounts are closing, is beyond me)...

Writing in The Wall Street Journal's opinion section, Lewis said criticism of the program has been "deeply concerning," but said the pilot will continue in Los Angeles. He said the card follows the USA Patriot Act and Treasury Department rules that allow financial institutions to accept identification issued by foreign governments, including matricula consular IDs provided by Mexican consulates.

In the editorial, Lewis said the bank "does not deliberately market financial products and services to illegal immigrants from any country" but acknowledged illegal immigrants could sign up for his bank's offerings as well as those of competitors. He said denying service to people who can legally use his bank's products would only encourage customers to resort to underground financial services.

Questions like, how does one secure a credit card to someone who is a known lawbreaker (entering the country illegally is, you know, against the law), but the worst of this is the defending against the public backlash against this stupid, stupid move on the part of Bank of America.

They could lose, what, an insignificant $500 worth of charges a couple thousand times from the defaults on these cards, but how many 'hidden' millions are going to be lost, from customers closing their accounts or potential customers not bothering to open ones, given there are plenty of banks to choose from? If my business needs a new loan to build my next skyscraper, do I want to have a 'Financed by Bank of America' sign on the construction site, given the current mood of the public?

Well, that sign might attract additional helpers for the construction company...

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