Posted on 08/21/2005 8:39:50 AM PDT by truthkeeper
WEST COVINA -- Eileen Olson has a bone to pick with Wells Fargo bank.
Despite being a longtime customer, the 80-year-old plans to take her business elsewhere if the bank does not stop allowing Mexican immigrants to open accounts using a matricula consular identification card.
Olson and about 20 others gathered Saturday morning outside the Wells Fargo branch on Barranca Avenue in West Covina, protesting the bank's recent practice.
"They give illegals advantages they don't give some citizens," Olson said. "It's not right. It encourages more illegal aliens to come."
A spokeswoman from Wells Fargo & Co. said the bank decided to start accepting matricula consular identifications in 2001, after police agencies in Texas reported too many Mexican immigrants were walking around with all their savings in cash.
"Some folks think we had this as part of the strategic business plan, but we did it in response to a community need," said Dolores Arredondo, the bank's vice president of multicultural communications in Los Angeles. "We actually did this in May 2001 after police in Austin, Texas, approached us asking us to find a way to work with people who were storing cash."
Later that year, former Mexican Ambassador Marta Lara of the consulate general of Mexico in Los Angeles asked the bank to do the same in this area, Arredondo said.
Issued by the Mexican government, the matricula consular card has been in use for more than antury and is how Mexico keeps track of its citizens abroad, according to news reports.
Wells Fargo branches accept the matricula consular card as a primary identification and require a second identification, such as a passport or Social Security number, before a customer can open an account, Arredondo said.
She said customers using the matricula consular card have proven to be just as reliable as customers who use other forms of identification.
"(Accepting the matricula consular card) had some resistance in a few communities, but it is part of our company's vision and values," she said. "We're committed to providing banking services to the entire community."
Saturday's protesters do not agree.
"We believe it is unsafe and unwise for people not from our country to bank in our institutions," said Robin Hvidston of Upland, who organized the protest. "We feel like (Wells Fargo) is putting our country in jeopardy."
Forget the bank accounts. What About the MORTGAGES they give to the illegals?
Is that really a problem? Seems it helps identify 'em...
Hmm, so that's why the Wells Fargo bank manager admitted they don't check signatures or IDs. We couldn't close our account with them fast enough.
We did the same thing.
Ironic that Wells Fargo welcomes all to its stage coach. Has the guard turned his shotgun in yet?
Sounds like an invitation to a money laundering fiesta.
I am now stuck looking for a new bank that is nationwide (all 50 states) besides Bank of America..
If I think of one, I'll let you know.
I think the only genuine humorous part of the whole article was the bank saying they only did that to protect the illegals. I wonder how many people really believe that. We all know what the real reason was.
Oh, sure, you all are just a big group of kindhearted strangers looking out for the welfare of the community. [pronounced kah-MEW-nity]
How does this practice hurt this old lady? This is such a non-issue protest.
Must be "compassionate conservatism"...
Bank of America is just as bad as Wells Fargo when it comes to giving loans to illegals.
The foreigners could have bought travelers checks if they were afraid of losing "all their savings" while carrying it everywhere. Or, they could have opened bank accounts with their passports.
Wells Fargo branches accept the matricula consular card as a primary identification and require a second identification, such as a passport or Social Security number, before a customer can open an account, Arredondo said.
Do they verify that the SSN is real and not stolen?
"We believe it is unsafe and unwise for people not from our country to bank in our institutions," said Robin Hvidston of Upland, who organized the protest. "We feel like (Wells Fargo) is putting our country in jeopardy."
Lots of foreigners bank with the US legally without matricula consular cards. Essentially, they're investing in our country.
The problem is that the banks take the risk of extending loans to illegal aliens who use easily-obtained and possibly fraudulent matricula consular cards. That risk may be spread over all the customers of the bank, although home loans in a rising market probably aren't as risky. Also, the illegal aliens may be terrorists who can use the borrowed capital to finance terrorism here, with no intention of returning the money.
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