March 13, 2007

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03/12/07 - A Reader is Furious About The ACLU’s Hazleton Lawsuit

A Reader Explains Why Banks In America Are Accepting ID That Mexican Banks Won’t

From:  Tom Shuford In North Carolina

After listening—via a 5-minute YOUTUBE video—to three Spanish-speaking "Mexican citizens" being turned down by three Mexican banks ( Banorte, Banamex, and HSBC) when they ask to open accounts using Mexican Matricula Consular IDs: [Banks In Mexico Vs. Bank Of America]curious readers might wish to know why, in contrast, U. S. banks eagerly accept the easily faked cards.

The answer to that question is in four key paragraphs from a Charlotte Observer report.  Charlotte is headquarters of Bank of America and Wachovia.  

Banks: Residency not our business [excerpts]
Companies court immigrants but avoid immigration politics
Charlotte Observer
RICK ROTHACKER
August 27, 2006

"Under the USA Patriot Act, the U.S. Treasury Department implemented rules in 2003 that required banks to verify the identification of customers opening accounts. The guidelines allowed banks to accept government-issued identifications, such as Mexican ID cards known as matricula consular."

"After pressure from Congress and the Justice Department, however, the Treasury Department agreed to review the acceptance of the IDs issued by Mexican consulates. Critics said the cards were fraud-prone and allowed illegal immigrants to open accounts. The IDs do not list immigration status."

"The Financial Services Roundtable, [Send them mail] an influential industry trade group, lobbied to preserve the use of matricula consular, and the Treasury Department later affirmed its rule. Andy Barbour, vice president of government affairs for the trade group, [Send him mail] said banks wanted the flexibility to use the IDs and the ability to serve Hispanic customers."

"'We are very supportive of banking the unbanked, whether Hispanics or others,' he said."

"Bank of America, Wachovia and Winston-Salem-based BB&T Corp. are among the banks that accept matricula consular. All three have since launched remittance services that require customers to open accounts."