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http://www.omniture.com --> Sections Home Page Local News AP News Blogs Archives Business Classifieds Event Calendar Forums Life Opinion Obituaries Multimedia Photo Gallery Readers Photo Gallery Sports Tempo Weather Road Cams Special Coverage 2006 Britt Festivals --> Shop Our Valley AutoFinder HomeFinder JobFinder Search Our Valley Special Sections Distinctly Northwest Readers' Choice Homelife Magazine Joy Magazine Oregon Golf Info Oregon Wine Info Other Publications Local Links Ashland News eSouthernOregon Newspapers In Education Personals Moving Here Movie Listings TV Listings Volunteer Customer Service Advertise With Us Media Kit Place Classified Ad Contact Us FAQ's Home Delivery Site Map --> Email Story to a Friend February 14, 2007 Bank of America reaches out to illegals It's testing credit cards for Spanish-speaking customers lacking Social Security numbers By E. Scott Reckard Los Angeles Times Continuing to court the burgeoning market of Hispanic immigrants, Bank of America said Tuesday it is test-marketing credit cards for Spanish-speaking customers who may not have Social Security numbers. The cards, which critics say will enable illegal immigrants to put down roots more easily in the United States, carry higher than usual interest rates and allow users to charge only $500. The cards are designed to be a first step for immigrants trying to build a credit history, bank spokeswoman Alexandra C. Trower said Tuesday. Charlotte, N.C.-based Bank of America, the nation's largest retail bank, is test-marketing the card program in Los Angeles County. It plans to introduce it nationwide if all goes well, according to The Wall Street Journal, which first reported on the program. Bank of America, Wells Fargo Bank, Citibank and other big retail institutions are all intent on establishing relations with Hispanics, whose growing numbers and economic muscle make them the largest "unbanked" segment of U.S. society. Advertisement Money transfer services now are widely available at big banks, allowing Hispanics to send billions of dollars a year to relatives in Latin America. Bank of America's SafeSend program allows customers with checking accounts to wire up to $3,000 a month to Mexico free of charge. Other banks, including Citibank and Wells Fargo Bank, have experimented with providing mortgages to immigrants who have no Social Security numbers to identify themselves. The banks instead allow the immigrants to establish accounts by using individual taxpayer identification numbers, or ITINs, issued by the Internal Revenue Service. They also may accept an identification card issued by Mexican consulates, known as the matricula consular. The Los Angeles department store chain La Curacao offers credit cards to undocumented Hispanic immigrants with a matricula and has issued nearly 1 million. Bank of America complies with all banking and antiterrorism laws governing customer identification, which permit the use of ITINs, spokeswoman Trower said. Critics complain that it is easy for illegal immigrants to obtain ITINs, which they then use to gain access to financial services and tax benefits to which they are not entitled. "At face value the program seems to be problematic," said Russ Knocke, a spokesman for the Department of Homeland Security. "It seems to be lending itself to possibilities of perpetrating identity theft or creating more risk for money laundering." Would you like to respond to this story? If so Click Here to visit our forums. Advertisement Copyright © 1997-2007 Mail Tribune, Inc. All rights reserved. Privacy Policy | Terms & Conditions | Website Feedback online casinos news Home Security Systems Online Casino Reviews Fundraisers UK Homeowner Loans Casinos Canada Cord Blood Banking Entertainment Guide Texas Electric Choice Compare Electric rates in Texas Windermere Van Vleet Trunks, Footlocker Men's Clothing Debt Help