The Bank Crisis and Illegal Aliens

A Hat Tip to Steve Sailer at http://isteve.blogspot.com/ for this article about Bank Bailouts and Comprehensive Immigaration Reform (Amnesty)

Subprime and Illegal Aliens
Of course, we all know that, on October 26, 2001, President Bush signed the USA Patriot Act. However, I would wager to say that almost no one knows that contained in section 326(b) of the USA Patriot Act is a provision that allows US banks to accept Mexican Matricula Consular cards as a valid form of ID for opening bank accounts.

It should be noted that while our President and Congress ordered American banks to recognize these Mexican-issued cards, there is not one Mexican bank which accepts their own government’s Matricula Consular card as a valid form of ID, because the bearer’s identity is basically untraceable.

See hear for the Congressional debate on this when attempts to reform this were defeated in 2004 by a joint effort by financial institutions, immigrants’ rights groups, consumer groups, and many others who worked in coalition to defeat, once again, efforts to limit the acceptance of consular ID cards by banks, credit unions, thrifts, and other financial entities.



The following is a list of U.S. banks (both regional and national) and mortgage insurers which are known to offer home loan programs targeted at illegal aliens:

-Bank of America,
-Citigroup
-Deutsche Bank AG
-Fifth Third Bancorp
-Genworth Financial Inc.
-J.P. Morgan Chase
-Liberty Financial
-Mortgage Guarantee Insurance Corp.
-Plaza Bank
-Wachovia
-Wells Fargo

Read the full article here http://isteve.blogspot.com/2009/04/subprime-and-illegal-aliens.html