I wonder if Bank of America realized the publicity and backlash it would receive when it announced a program to offer credit cards to customers without a Social Security number or credit history. While BOA has said this program isn’t targeted at illegal immigrants, it stands to reason that’s the population most likely to not have a Social Security number.

Now, a nationwide backlash is brewing against BOA and other banks with similar programs, such as CitiBank and Wells Fargo.

This note from a story on the issue: Some experts say the 12 million estimated illegal immigrants in the U.S. could translate to a $360 billion market for banks and other financial institutions.

With those kinds of figures, losing a few customers in a protest is probably not a big deal to these banks. Share your thoughts; post a comment.

Comments (1) >>

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written by Dave on March 29, 2007

BOA's decision caused me to divest myself of anything to do with them. I am sure this won't break their heart, but it sure makes me feel better. I can not and will not associte myself with a company that thumbs their nose at the betterment of the country over making money.

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