(Photograph)
demonstration: Bob Casimiro protests Bank of America's decision to provide credit cards to people without Social Security numbers at branch office in Rochester, N.H.
CHRIS/CANDIDATEPHOTOS.COM

Bank's credit cards for noncitizens raise ire

Bank of America's decision makes it easier for legal immigrants to build credit. But critics say it helps illegal migrants.

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As Bank of America tests a new credit card in California – which customers may get without a Social Security number – it has found itself in the middle of a hornet's nest over immigration.

Immigration advocates call the new plastic an important boost for the nation's legal immigrants, who often have to rely on check-cashing services or pawnshops for credit. But critics say it makes it easier for illegals to stay. The controversy reflects the deep divisions over immigration that are playing out not just in halls of Congress but on Main Street in the everyday transactions of consumers.

"This is another example of corporate greed run amok at the expense of the rest of us," says Mary Murset, as she leaves a Bank of America ATM at a nearby branch. A customer with the bank for nearly 80 years, Ms. Murset worries that legal and illegal immigrants will run up charges on the new card, then leave the country without paying – increasing her cost of banking.

Ten blocks away, it's a different story. Jose Ybarra stuffs $600 in cash into his wallet as he leaves a storefront, check-cashing service. A 10-year US resident from Zihuatanejo, Mexico, Mr. Ybarra has a green card but no Social Security number. "I'm tired of using pawnshops for loans and check cashers and carrying all my money ... it's not safe," he says.

It's people like Ybarra that Bank of America is seeking to attract. The bank's recent decision comes after other financial institutions, including Citigroup, have for years been offering credit cards to people who do not have Social Security numbers. Another bank, Wells Fargo & Co. is considering it.

"Banks see this as an emerging market with untapped dollar signs," says Beatriz Ibarra, assets policy analyst for National Council of La Raza, the largest national Hispanic civil rights and advocacy organization in the US.

For its part, Bank of America says that the new card is not targeted to illegals, but rather aims "to help Bank of America customers build a credit history," said CEO Kenneth Lewis. The card requires customers to have an account with the bank that has been in good standing for three months.

Groups seeking to curtail illegal immigration say the new cards are another way to seek profit from the 12 million illegal immigrants who are in the country. They are asking customers to cancel their Bank of America accounts and are pushing federal legislation to make it illegal to offer credit cards to undocumented immigrants.

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