http://people.bakersfield.com/home/Blog/woofwoof/5771 I&nbsp;heard this:&nbsp; California has the nation's largest concentration of illegal immigrants. Bank of America has begun selling credit cards to customers who lack a U.S. Social Security number or credit history, opening the business to undocumented immigrants. The bank expanded the program to 51 branches in Los Angeles County last week. The plan is utilizing &quot;judgmental lending'' practices.&nbsp; Analysis of creditworthiness goes beyond traditional credit scores and leaves lending decisions up to specialists. Banks have given checking accounts and mortgages to illegal immigrants based on their individual tax identification numbers, which are given by the IRS to those who either don't have or aren't eligible for a Social Security number. The tax ID's&nbsp;are issued regardless of immigration status because nonresidents, like U.S. citizens, may also have tax responsibilities. So, whatever happened to the days of packing up the bus and sending illegals home.&nbsp; No wonder we have an illegal immigration problem.&nbsp; The point of Border Patrol/ or Immigration is moot. Welcome, pass go, collect a new credit card.&nbsp; WOOF! I&nbsp;heard this:&nbsp; California has the nation's largest concentration of illegal immigrants. Bank of America has begun selling credit cards to customers who lack a U.S. Social Security number or credit history, opening the business to undocumented immigrants. The bank expanded the program to 51 branches in Los Angeles County last week. The plan is utilizing &quot;judgmental lending'' practices.&nbsp; Analysis of creditworthiness goes beyond traditional credit scores and leaves lending decisions up to specialists. Banks have given checking accounts and mortgages to illegal immigrants based on their individual tax identification numbers, which are given by the IRS to those who either don't have or aren't eligible for a Social Security number. The tax ID's&nbsp;are issued regardless of immigration status because nonresidents, like U.S. citizens, may also have tax responsibilities. So, whatever happened to the days of packing up the bus and sending illegals home.&nbsp; No wonder we have an illegal immigration problem.&nbsp; The point of Border Patrol/ or Immigration is moot. Welcome, pass go, collect a new credit card.&nbsp; WOOF! en-us <p>I heard that on the radio yesterday but haven't had a chance to check it out.&nbsp; Hope you have Woof..if not you'll be accused of &quot;hollerin' before you're bit.&quot;&nbsp;&nbsp; You know how it gets on here if you haven't substantiated every dotted I and crossed T.&nbsp; <strong><font size="4">:-)</font></strong></p> <p><font size="1">On the surface it's insanity on the banks part because when they default..and&nbsp;a lot will..who's going to pick up the tab?&nbsp; Is BofA going to attach their wages?&nbsp;&nbsp; I need to research this one.</font></p> http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58132 http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58132 <p>I heard that on the radio yesterday but haven't had a chance to check it out.&nbsp; Hope you have Woof..if not you'll be accused of &quot;hollerin' before you're bit.&quot;&nbsp;&nbsp; You know how it gets on here if you haven't substantiated every dotted I and crossed T.&nbsp; <strong><font size="4">:-)</font></strong></p> <p><font size="1">On the surface it's insanity on the banks part because when they default..and&nbsp;a lot will..who's going to pick up the tab?&nbsp; Is BofA going to attach their wages?&nbsp;&nbsp; I need to research this one.</font></p> <p>OK..here's the scoop.&nbsp; They won't be required to have SS #'s but will be required to have a Fed ID #.&nbsp; </p> <p><a href="http://business.bostonherald.com/businessNews/view.bg?articleid=182823">http://business.bostonherald.com/businessNews/view.bg?articleid=182823</a></p> http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58135 http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58135 <p>OK..here's the scoop.&nbsp; They won't be required to have SS #'s but will be required to have a Fed ID #.&nbsp; </p> <p><a href="http://business.bostonherald.com/businessNews/view.bg?articleid=182823">http://business.bostonherald.com/businessNews/view.bg?articleid=182823</a></p> Nancy, that was in my blog.&nbsp; The Tax ID's are federal ID's...how else would they track the illegals without some form of official US identification? http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58139 http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58139 Nancy, that was in my blog.&nbsp; The Tax ID's are federal ID's...how else would they track the illegals without some form of official US identification? <p>Woof..they don't to a very good job of tracking them with or without #'s.&nbsp;&nbsp;&nbsp; Isn't it crazy how banks are so tied into making the almighty dollar that they are willing to extend credit to people who will take the money and run (so to speak).&nbsp; It's their money so I guess we shouldn't complain...the trouble is, when businesses (and banks) lose money..we all pay.</p> <p>Thanks for bring the subject to the blog.</p> http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58143 http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58143 <p>Woof..they don't to a very good job of tracking them with or without #'s.&nbsp;&nbsp;&nbsp; Isn't it crazy how banks are so tied into making the almighty dollar that they are willing to extend credit to people who will take the money and run (so to speak).&nbsp; It's their money so I guess we shouldn't complain...the trouble is, when businesses (and banks) lose money..we all pay.</p> <p>Thanks for bring the subject to the blog.</p> <p>It makes American Banks (but I guess any country would./could do this for <em>their&nbsp;</em>illegal immigrants) look greedy.&nbsp; These poor immigrants will pay way HIGHER interest rates.&nbsp; </p> <p>Do you think the &quot;illegals&quot; will still be scared of Immigration, because they have to get a Federal ID....well, now I gotta research that.&nbsp; Why/how do they get Fed ID's...is it&nbsp;only a temporary thing?&nbsp; I get the fact they need an ID to work.</p> <p>I guess Immigration can try and get the records of people who are not citizens....will that deter the illegals from getting a credit card....not so much anymore....they have no fear of coming here illegally anymore, no fear of being sent home...</p> <p>Like i said, now I'm off to do more research too.</p> http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58145 http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58145 <p>It makes American Banks (but I guess any country would./could do this for <em>their&nbsp;</em>illegal immigrants) look greedy.&nbsp; These poor immigrants will pay way HIGHER interest rates.&nbsp; </p> <p>Do you think the &quot;illegals&quot; will still be scared of Immigration, because they have to get a Federal ID....well, now I gotta research that.&nbsp; Why/how do they get Fed ID's...is it&nbsp;only a temporary thing?&nbsp; I get the fact they need an ID to work.</p> <p>I guess Immigration can try and get the records of people who are not citizens....will that deter the illegals from getting a credit card....not so much anymore....they have no fear of coming here illegally anymore, no fear of being sent home...</p> <p>Like i said, now I'm off to do more research too.</p> I think the key word here is &quot;selling&quot;<br /> <br /> I believe that they are pre-paid &quot;credit cards&quot; but there is no actual credit involved. Think of a phone card that you charge up by putting money in. Banks may be greedy, they ain't stupid. http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58154 http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58154 I think the key word here is &quot;selling&quot;<br /> <br /> I believe that they are pre-paid &quot;credit cards&quot; but there is no actual credit involved. Think of a phone card that you charge up by putting money in. Banks may be greedy, they ain't stupid. <p>PPete how do they get mortgages then?&nbsp; </p> <p>U.S. banks, including Wells Fargo, are giving checking accounts <strong>and mortgages</strong> to immigrants based on their tax identification numbers, which are granted by the Internal Revenue Service to people who either do not have or are not eligible for Social Security numbers. The tax numbers are issued regardless of immigration status because nonresidents may owe taxes, meaning that those who enter the country illegally can obtain them. </p> <p>Lenders believe the onus should not be on them to check an applicant's citizenship status. </p> <p>Wow, this blows me away.&nbsp; Why am I complaining about this...this is a bigger apple than I can chew.</p> http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58156 http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58156 <p>PPete how do they get mortgages then?&nbsp; </p> <p>U.S. banks, including Wells Fargo, are giving checking accounts <strong>and mortgages</strong> to immigrants based on their tax identification numbers, which are granted by the Internal Revenue Service to people who either do not have or are not eligible for Social Security numbers. The tax numbers are issued regardless of immigration status because nonresidents may owe taxes, meaning that those who enter the country illegally can obtain them. </p> <p>Lenders believe the onus should not be on them to check an applicant's citizenship status. </p> <p>Wow, this blows me away.&nbsp; Why am I complaining about this...this is a bigger apple than I can chew.</p> <p>Here's a great article from <a href="http://www.businessweek.com/magazine/content/05_29/b3943001_mz001.htm">Business Week</a>,&nbsp;&nbsp;in terms I understand.&nbsp; </p> <p>Trying to read this <a href="http://www.cis.org/articles/2002/back1202.html#12">CIS article</a> &quot;made me go cross-eyed&quot;, mind you, this one's from '02</p> http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58159 http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58159 <p>Here's a great article from <a href="http://www.businessweek.com/magazine/content/05_29/b3943001_mz001.htm">Business Week</a>,&nbsp;&nbsp;in terms I understand.&nbsp; </p> <p>Trying to read this <a href="http://www.cis.org/articles/2002/back1202.html#12">CIS article</a> &quot;made me go cross-eyed&quot;, mind you, this one's from '02</p> Pete..it was my understanding (unsubstantiated) that some of the credit cards would have limits up to the amount they have in savings or checking.&nbsp; Somehow that doesn't seem very secure since it's easy to pull money out.&nbsp; I don't know all the in's and out's for sure but it's continuing to break and I'm sure we'll be hearing more about this.&nbsp; One of my questions would be..if they know these folks are here illegally how or why are they giving them Fed ID #'s?&nbsp; Another question is how are they getting bank accounts period?&nbsp; What happened to the work visa or green card to make them documented workers?&nbsp;&nbsp;&nbsp; As bad as our borders are now..are they crumbling even further? http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58162 http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58162 Pete..it was my understanding (unsubstantiated) that some of the credit cards would have limits up to the amount they have in savings or checking.&nbsp; Somehow that doesn't seem very secure since it's easy to pull money out.&nbsp; I don't know all the in's and out's for sure but it's continuing to break and I'm sure we'll be hearing more about this.&nbsp; One of my questions would be..if they know these folks are here illegally how or why are they giving them Fed ID #'s?&nbsp; Another question is how are they getting bank accounts period?&nbsp; What happened to the work visa or green card to make them documented workers?&nbsp;&nbsp;&nbsp; As bad as our borders are now..are they crumbling even further? If that really is the case, it seems to me that the ones that could be harmed the most from this are: (1) The banks doing the lending and (2) the human being borrowing the money because it is likely that a bank would try to take advantage of the situation. Other than that, why should I care?<br /> <br /> This line kills me.<br /> <em>Lenders believe the onus should not be on them to check an applicant's citizenship status.</em><br /> Fine then, don't check. http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58163 http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58163 If that really is the case, it seems to me that the ones that could be harmed the most from this are: (1) The banks doing the lending and (2) the human being borrowing the money because it is likely that a bank would try to take advantage of the situation. Other than that, why should I care?<br /> <br /> This line kills me.<br /> <em>Lenders believe the onus should not be on them to check an applicant's citizenship status.</em><br /> Fine then, don't check. But Nancy, how are these giant Ag and construction companies, etc supposed to get cheap labor? http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58164 http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58164 But Nancy, how are these giant Ag and construction companies, etc supposed to get cheap labor? <p>Nancy, my understanding is, if you have a golfer from another country competing in a competition he wins, he has to be able to pay tax on his winnings.&nbsp; In order to do that, he needs the Fed ID #.&nbsp;</p> <p>PPete, yeah the &quot;onus&quot; line cracked me up too.&nbsp; But don't&nbsp; you think someone should be penalized for giving loans to ILLEGAL IMMIGRANTS????&nbsp; It makes it ok, then doesn't it.&nbsp; There should be a law for being an accomplice to a crime of helping illegal foreigners....right????</p> http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58169 http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58169 <p>Nancy, my understanding is, if you have a golfer from another country competing in a competition he wins, he has to be able to pay tax on his winnings.&nbsp; In order to do that, he needs the Fed ID #.&nbsp;</p> <p>PPete, yeah the &quot;onus&quot; line cracked me up too.&nbsp; But don't&nbsp; you think someone should be penalized for giving loans to ILLEGAL IMMIGRANTS????&nbsp; It makes it ok, then doesn't it.&nbsp; There should be a law for being an accomplice to a crime of helping illegal foreigners....right????</p> I just purchased a Matricula Consular card. It's the best investment a US Citizen can make. It allows excellent cover to make all kinds of fraudulent financial moves. Don't leave home without it! Street price is $30 in LA, ($40 gringo price based on your appearance) http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58170 http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58170 I just purchased a Matricula Consular card. It's the best investment a US Citizen can make. It allows excellent cover to make all kinds of fraudulent financial moves. Don't leave home without it! Street price is $30 in LA, ($40 gringo price based on your appearance) Aiding and abetting, <strong>Woof</strong>? Honestly, I would expect this kind of tripe from the xenophobes on talk radio, but certainly not from you. Why not make people present their i.d. at <u>all</u> times then? Go after banks for letting illegal immigrants store money with them? What's next? Why not go after McDonalds for selling a hungry illegal immigrant a Big Mac and fries? After all, that's &quot;aiding and abetting&quot;. Go after taxi companies that give rides to illegal immigrants, for the same reason. Where would you have it stop? Should we do this for <u>every</u> financial transaction? For every inter-personal interaction?&nbsp;Teachers for &quot;aiding and abetting&quot; illegal immigrant children? http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58180 http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58180 Aiding and abetting, <strong>Woof</strong>? Honestly, I would expect this kind of tripe from the xenophobes on talk radio, but certainly not from you. Why not make people present their i.d. at <u>all</u> times then? Go after banks for letting illegal immigrants store money with them? What's next? Why not go after McDonalds for selling a hungry illegal immigrant a Big Mac and fries? After all, that's &quot;aiding and abetting&quot;. Go after taxi companies that give rides to illegal immigrants, for the same reason. Where would you have it stop? Should we do this for <u>every</u> financial transaction? For every inter-personal interaction?&nbsp;Teachers for &quot;aiding and abetting&quot; illegal immigrant children? <p class="MsoNormal" style="TEXT-ALIGN: justify">The ITIN has been linked in media stories to the burgeoning popularity of the matricula.&nbsp; Banks need an official U.S. tax number to open an interest bearing account and, by definition, illegal aliens are not legally entitled to a Social Security number.&nbsp; So Mexican consulate staffs have been suggesting the ITIN as an acceptable alternative and, apparently, neither the banks nor the IRS raised objections.&nbsp; However, within the last three months, both the Treasury Department and IRS have thrown up strong warning signals that the ITIN cannot (or should not) be accepted as an identification document.</p> <p class="MsoNormal" style="TEXT-ALIGN: justify">OHHHHH, strong warnings....so, so scared....NOT WORKING!!!</p> http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58182 http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58182 <p class="MsoNormal" style="TEXT-ALIGN: justify">The ITIN has been linked in media stories to the burgeoning popularity of the matricula.&nbsp; Banks need an official U.S. tax number to open an interest bearing account and, by definition, illegal aliens are not legally entitled to a Social Security number.&nbsp; So Mexican consulate staffs have been suggesting the ITIN as an acceptable alternative and, apparently, neither the banks nor the IRS raised objections.&nbsp; However, within the last three months, both the Treasury Department and IRS have thrown up strong warning signals that the ITIN cannot (or should not) be accepted as an identification document.</p> <p class="MsoNormal" style="TEXT-ALIGN: justify">OHHHHH, strong warnings....so, so scared....NOT WORKING!!!</p> Mattloch, where does the responsiblity lie then?&nbsp; I guess since the Federal Reserve is NOT owned by the government, I'm beating a dead horse... http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58186 http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58186 Mattloch, where does the responsiblity lie then?&nbsp; I guess since the Federal Reserve is NOT owned by the government, I'm beating a dead horse... <p>I guess this is my point:&nbsp; For more than two decades, America's illegal aliens have been the target of national attention -- largely for negative reasons. Their growing numbers put downward pressure on U.S. wages <strong>and new demands on schools, hospitals, and other public services</strong>. Fears of heavier social burdens and higher tax bills have led citizens and local officials to object with renewed vigor to what many perceive as an unwanted invasion from Mexico and other countries, especially to newer destination states such as Alabama, Georgia, North Carolina, and Tennessee.&nbsp; Yet all the while, farms, hotels, restaurants, small manufacturers, and other employers have continued to hire the undocumented <strong>with little regard to the federal laws intended to stop them.<br /> </strong>&nbsp;</p> <p>I'm taking a break, I gotta get outta the house more....check back later.&nbsp;</p> http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58190 http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58190 <p>I guess this is my point:&nbsp; For more than two decades, America's illegal aliens have been the target of national attention -- largely for negative reasons. Their growing numbers put downward pressure on U.S. wages <strong>and new demands on schools, hospitals, and other public services</strong>. Fears of heavier social burdens and higher tax bills have led citizens and local officials to object with renewed vigor to what many perceive as an unwanted invasion from Mexico and other countries, especially to newer destination states such as Alabama, Georgia, North Carolina, and Tennessee.&nbsp; Yet all the while, farms, hotels, restaurants, small manufacturers, and other employers have continued to hire the undocumented <strong>with little regard to the federal laws intended to stop them.<br /> </strong>&nbsp;</p> <p>I'm taking a break, I gotta get outta the house more....check back later.&nbsp;</p> <strong>Woof</strong>, if you're going to copy and paste from an article or other source, you should always always <a href="http://www.businessweek.com/magazine/content/05_29/b3943001_mz001.htm">give the source cite</a>. Also, your personal stake&nbsp;in this issue would be better served by writing about it in your own words, instead of simply repeating someone else's anger. http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58197 http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58197 <strong>Woof</strong>, if you're going to copy and paste from an article or other source, you should always always <a href="http://www.businessweek.com/magazine/content/05_29/b3943001_mz001.htm">give the source cite</a>. Also, your personal stake&nbsp;in this issue would be better served by writing about it in your own words, instead of simply repeating someone else's anger. I don't see why they should be penalized. The banks are the ones solely taking the financial risk. If they are screwed out of any money, there's your penalty. While I do think we need to change our immigration rules, I refuse to play the victim and say that our biggest threat today comes from Mexico. Make no mistake about it. A whole lot of things would be a whole lot more expensive if it weren't for cheap illegal Mexican labor, and a lot of companies are more than willing to employ them. If you really want to reduce the number of illegal immigrants coming over the border, go after the corporations that hire them. http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58199 http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58199 I don't see why they should be penalized. The banks are the ones solely taking the financial risk. If they are screwed out of any money, there's your penalty. While I do think we need to change our immigration rules, I refuse to play the victim and say that our biggest threat today comes from Mexico. Make no mistake about it. A whole lot of things would be a whole lot more expensive if it weren't for cheap illegal Mexican labor, and a lot of companies are more than willing to employ them. If you really want to reduce the number of illegal immigrants coming over the border, go after the corporations that hire them. <p>Mattloch, did you just spank me with a rolled up newspaper?&nbsp; I <em>did</em> mention the Business Week article, it's 8th down from the top.&nbsp; Next time, I'll better link it.....yip yip yip!</p> http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58204 http://people.bakersfield.com/home/Blog/woofwoof/5771/#c_58204 <p>Mattloch, did you just spank me with a rolled up newspaper?&nbsp; I <em>did</em> mention the Business Week article, it's 8th down from the top.&nbsp; Next time, I'll better link it.....yip yip yip!</p>