Posted on 02/25/2007 9:14:45 AM PST by DTogo
El Pingo!
I have to figure out a way to save it so I can send it on.
Dear Senores y Senoras,
I had been a Bank of America customer since 1984. It says so on my card currently printed in English. Up to today I assure you that my account(s) have been very profitable for your large impersonal corporation.
Alas, your recent marketing efforts to position yourself as the illegal immigrant banking institution, have metastasized and materialized to such an in insulting state that , today, I am closing all my banking relationships with Bank of Mexico..er..America.
Between all the family accounts that I manage, the mortgages, car loans, etc, I estimate that to be well over 1 Million in customer assets and obligations. Not a lot in the nameless faceless spreadsheet aggregate but I’m sure equivalent to hundreds of profitable “latino friendly” accounts that you so desperately crave.
Surely you know the pattern. Subject your customers to begin each transaction on your paid customer service line to a Spanish dialogue. Then follow that with the requirement that at the Versatel, the customer must press YES ENGLISH twice, to begin the transaction. That enough is maddening and insulting…but yes…you topped it.
The new “no social security number required credit cards and mortgages”!. All with the stringent requirement that individuals must already have a banking relationship with Bank of The Greater America. Gee, I wonder what large pot of customers this targets? Que lastima!!!
I know your business model contains customer turnover metrics that take into account the amount of assets you will lose to individuals like myself that do not value the dollar to the extent of your MBAs. Surely your customers will continue to bank with you at the expense of national security or the in your face cultural disrespect. Right? I do believe that you have misunderestimated the reaction from your customer base and have misjudged the widespread discontent this marketing model has produced.
This is a very important letter in that it represents the first time that I have written such to an entity that I have done lifelong business with. File it under “Circular” if you will. Or Circulara should that be the new database file name.
Regards
samadams2000
ping
LMAO!
So damn funny.
First, it is more than "no social security number required". Because an illegal alien is likely not going to reveal their residence or work history prior to their entry to the U.S. So in addition to no social security number, it is a limited personal history.
Second, under nondiscrimination in lending laws, they would have to extend the non-requirement of a social security number and limited personal history to everyone, not just illegal aliens. This seems to be a simple way for someone who has bad or destroyed credit to get a credit card.
Third, I believe it would be impossible to do a credit check on someone without a social security number, especially when combined with a limited personal history.
Fourth, it seems the risk of default would be much, much higher for someone without a credit score.
So, one would have to assume the interest rate offered on these instruments would be much, much higher (in fact, near the legal limit) than those with a reasonable credit score, and even more than those with bad credit or those who are in, or recently exited, personal bankruptcy.
Then you have to deal with the inevitable lawsuits this is going to open up. Illegal immigration legal assistance groups will no doubt sue BofA if the interest rate is not reasonable. Individual citizens with poor credit will no doubt sue if BofA does not grant them credit while granting credit to those with undetermined credit histories. Current BofA customers may sue if they feel their interest rates in comparison to those with undetermined credit histories are relatively high. They could claim they are funding the risk and defaults of those with undetermined credit histories.
I think this whole thing is going to blow up in BofA's face, but not in the way most are thinking. I for one am going to pop some popcorn and sit back and watch.
Thanks. I was using the link and should have gone to Rush's site...worked like a charm. Had to send this one to those on both sides of the issue.
And when that happens the cost will be passed on to other BofA customers, making BofA less competitive and/or less profitable than other banks.
Indeed, this is a "Rubic's Grenade" BofA is playing with.
But the "Bank of Amigo" graphic is worth seeing when you go to El Rushbo's website! :)
ROTFLMAO!
I don't think there is a legal limit anymore.
Subject your customers to begin each transaction on your paid customer service line to a Spanish dialogue. Then follow that with the requirement that at the Versatel, the customer must press YES ENGLISH twice, to begin the transaction.
My bank only asks me once after I put my card in their machine whether I want to continue in English or Spanish. I've thought that obviously this is stupid as they already know that I will continue in English because I've told them so a thousand times! Recently it occurred to me that asking each time might be a security measure, as there really can be no other good reason for it.
ML/NJ
No SS# required? I think I'll put ALL my money in one of those accounts. What a great place to hide cash.
This will be one of the greatest money laundering scheme ever to be attempted against our Government. The politicians will stop at nothing to buy votes. In doing so, the US will be forfeiting billions in taxes (Income, FICA, Medicare, and interest on bank accounts).
It will not take long for the IRS to clampdown on B of A and any other bank who attempts this. It will all come down to revenue.
¡LOL! Excellente. Gracias para el pingo. Señor McCaniac es un hombre loco.
No habla Espanol. Se habla Englais y Japonese. ;^)
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.