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Bank of BS
Bank of America, I can now proudly say, is one bank I've never applied for employment at, nor would I ever. They've recently rolled out a "pilot program" which is aimed at making it easier and more accomodating for illegal immigrants to obtain unsecured credit cards. Interestingly enough, they've chosen to substitute the term, "illegal immigrant" with "Spanish-speaking individual who might not have a social security number". Now that's some fancy foot-work!
Bank officials have defended the program saying applicants must have a depository account in good standing with them for at least three months. This begs the question: So you've already been opening accounts for illegal immigrants with no social security numbers? Good job BoA! Not only is this practice illegal...it's illegal for a good reason. This program will be exploited by criminals of all kinds...from white collar money launderers to downright potential terrorists. The PATRIOT Act was set in place for a reason, folks. For those of you wondering, PATRIOT stands for Providing Appropriate Tools Required to Intercept and Obstruct Terrorism and was passed shortly after the attacks on September 11, 2001. In the banking world, this means simply, to know your customer. If you think you know them, get to know them better. This is the only sure means of preventing fraud and potential terrorism. And by knowing your customer I don't mean being familiar with them because you see them every day. I mean requiring they have a valid U.S. social security number, doing comprehensive background and credit checks....and also familiarizing yourself with their line of business and even more importantly, their financial habits.
Why does a bank need to know so much personal information about their customers? Because financial institutions are used by criminals as the primary vehicle for money laundering and funding terrorism. Makes sense, huh? Bank of America's new program will enable these criminals and help to futher embed illegal immigrants into our society. Their sheer disregard of federal laws and regulations for the pure sake of capitalizing on one of America's biggest problems (that being illegal immigrants) is absolutely disgusting. I am personally calling for a boycott on this company and will never buy their products or use their services. I hope many of you follow suit.
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