don't they realize that they can't trace unpaid debt if the person is illegal,,,,,
who is going to pay for the unpaid debt,,,why are we giving away money to ilegal aliens
was this a politicasl banking move by some latino group,,,who could they possibly make money off this unless they just raise fees for real citizens
2007-03-22 03:34:15 · 3 answers · asked by No Bs 1 in Politics & Government ➔ Politics
They are doing it because they think it is a good business move. They are tapping into a market that no other bank has tired. I think they will probably lose money on the program for the reasons you stated. In reality I do not think the program will last very long
2007-03-22 04:40:22 · answer #1 · answered by gerafalop 7 · 0⤊ 0⤋
Bank of America made a business decision to make "secured" credit card accounts available to individuals who don't have social security number. An overlying free market principle is that if no one else is doing it, and it is legal, then take advantage of the market.
The people who receive these credit card accounts are only eligible to charge an amount equal to their security deposit. Therefore, unpaid debt is not an issue.
Bank of America, along with other financial institutions have steadily increased banking fees for everyone. No independent group can force an independent company to make a service available to their consituents.
2007-03-22 04:43:35 · answer #2 · answered by ken erestu 6 · 0⤊ 0⤋
Why not? the government supplies them nutrition stamps, welfare, and occasional earnings housing. on an identical time as we that have been born and raised right here might desire to get out and artwork and pay taxes to help them. I easily have been working all my existence on account that I have been given out of highschool on the age of 17 i'm now in my 40's and are transforming into disable, yet have been instructed there is no help for me, so flow determine.
2016-10-19 08:20:03 · answer #3 · answered by ? 4 · 0⤊ 0⤋