One private party wants to extend credit to another private party. I just don't see the problem.
Are you against letting American banks loan money to foreigners living in other countries too?
You aren't looking very hard. Is it ok for BOA to lend money to members of al quada? They are private parties. ILLEGAL ALIENS, shouldn't be here, let alone have access to credit cards. That's the problem that you don't see.
Well....now that just wouldn't be fair.
Part of the cost of borrowing money from any financial institution is the cost of bad debt. So if lending to illegals increases bad debt, you and I will pay a higher percent when borrowing money. If you lend money to illegals, in theory, they could just head back to Mexico and there is no way to track them down. Legal citizens, with mortgages, legal employment etc. are easier to find and recover costs.
I wouldn't either, except the government doesn't seem to take a 'hands-off' approach to MY banking Have you tried to open a savings account lately? You need an amazing amount of evidence of who you are, where you live, how long you've been there, etc to get the bank to agree to hold your money. I'm into 3 1/2 weeks now getting a savings account set up with an out-of-town bank, as they keep asking for more and more documents and answers (and of course, they forget abut us for days at a time). I seem to recall needing a fair amount of documentation to set up my checking account too a couple years ago.
I fail to see how illegal aliens are getting bank accounts, which qualify them for credit cards, when it's so hard for citizens to get them any more.
One private party wants to extend credit to another private party. I just don't see the problem. ""
Bank of America can hardly be called a "private party".
They have stockholders. I am a private party. You are a private party. Neither of us has stockholders.
I don't have a problem with that. What I do have a problem with is the special treatment of illegal aliens by banks in order to win their business. Would you or I be able to walk into a bank and open a $100,000 savings account or buy that much in CD's without giving a Social Security number?
The Fourteenth Amendment, one for which I'm sure liberals would take credit even thought it was passed in the 1870's guarantees equal treatment under the law. Illegals are treated more equally than the rest of us who are law-abiding.
"One private party wants to extend credit to another private party.
I just don't see the problem."
Leave it to good old Yankee ingenuity to milk the illegal masses!
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