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Author: SeattlePioneer Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 63287  
Subject: Re: Familiar (?) 'Didn't Start Early' Story Date: 2/13/2007 1:18 PM
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<<<<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.

>>



http://today.reuters.com/news/articlenews.aspx?type=domesticNews&storyid=2007-02-13T053517Z_01_N13447905_RTRUKOC_0_US-BOFA-CARD.xml&src=rss&rpc=22



>>



So, is this an evil credit card company seeking to exploit a vulnerable new group, or will this be a positive benefit to the large majority of people who will get this credit card and have access to interest at cheap prices (if they behave responsibly) for the first time?



The issue of whether business should again be conniving to subvert the nation's immigration laws is a separate issue.




Seattle Pioneer
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