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#488006 - 01/24/06 06:05 PM
Bank Offers American Dream To Illegal Immigrants
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Power Poster
Joined: Aug 2003
Posts: 7,332
WOOHOO
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Bank Offers American Dream To Illegal Immigrants It's the American dream -- buying a home for your family. And now you don't have to be in the country legally to own one. "We're not required to ask the immigration status of any of our customers. That is the responsibility of the federal government," Wells Fargo bank representative Jerry Ruiz said. The program is called "Celebrate Home" and Wells Fargo says it complies with all federal regulations, 10News reported. Applicants do need a tax identification number issued by the Internal Revenue Service for people who do not have Social Security numbers. Snip........ Yahoo _______ How can they secure an IRS Tax ID that is not a Social Security Number, also? This is not a good idea.
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#488010 - 01/24/06 10:14 PM
Re: Bank Offers American Dream To Illegal Immigran
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Anonymous
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Quote:
How can they secure an IRS Tax ID that is not a Social Security Number, also? This is not a good idea.
ITINs are a necessary evil needed in order for the U.S. to comply with international treaties. And, of course, for the IRS to collect all the revenue it can.
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#488011 - 01/24/06 10:16 PM
Re: Bank Offers American Dream To Illegal Immigran
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Anonymous
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Oh, and by the way, the IRS recently changed the rules to become an ITIN Acceptance Agent: New Rules for Acceptance Agents
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#488012 - 01/25/06 02:16 AM
Re: Bank Offers American Dream To Illegal Immigran
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Power Poster
Joined: Aug 2004
Posts: 5,912
Outside A Garage
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How does a bank comply with CIP vis a vis illegal aliens?
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#488013 - 01/25/06 03:12 AM
Re: Bank Offers American Dream To Illegal Immigran
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Anonymous
Unregistered
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Quote:
How does a bank comply with CIP vis a vis illegal aliens?
C'mon, guys. CIP rules don't have anything to do with verification of immigration status any more than they require banks to verify that somebody is engaged in a legal business. It's irrelevant to the identification process.
Focusing on the CIP implications of immigration status is a red herring. The legitimate question everyone avoids asking is whether or not a bank is required to file a SAR if it suspects that someone is in the country illegally. Somebody needs to ask FinCEN that question in a public forum. (I'm not brave enough, or I would have done it already.)
Think about it.
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#488014 - 01/25/06 04:57 AM
Re: Bank Offers American Dream To Illegal Immigran
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Anonymous
Unregistered
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Quote:
The legitimate question everyone avoids asking is whether or not a bank is required to file a SAR if it suspects that someone is in the country illegally.
The reg says that a "transaction" requires reporting if, among other things, it "is conducted or attempted by, at, or through the bank", and it "involves or aggregates at least $5,000". Someone's immigration status is not a transaction, is not conducted through the bank and does not involve any sum of money.
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#488015 - 01/25/06 01:59 PM
Re: Bank Offers American Dream To Illegal Immigran
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Power Poster
Joined: Aug 2004
Posts: 5,912
Outside A Garage
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Here is the easy way to tell. If they come in with a state issued ID, (at least in California) they are either here legally, or the documents are fraudulent. Matricular Consular cards, which fortunately we are not as yet required to accept for opening an account, only necessary for illegals.
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#488016 - 01/25/06 02:53 PM
Re: Bank Offers American Dream To Illegal Immigran
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Anonymous
Unregistered
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Quote:
The reg says that a "transaction" requires reporting if, among other things, it "is conducted or attempted by, at, or through the bank", and it "involves or aggregates at least $5,000". Someone's immigration status is not a transaction, is not conducted through the bank and does not involve any sum of money.
True, but what if you conduct a $5,000.00 transaction for someone you suspect to be in the country illegally? (Don't think that undocumented immigrants don't have money. Some of them have lots of it.)
Here's something interesting published recently by the White House:
President Applauds House for Passing Immigration Reform Bill
I applaud the House for passing a strong immigration reform bill. America is a nation built on the rule of law, and this bill will help us protect our borders and crack down on illegal entry into the United States. Securing our borders is essential to securing the homeland. I urge the Senate to take action on immigration reform so that I can sign a good bill into law. (Link)
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#488017 - 01/25/06 05:40 PM
Re: Bank Offers American Dream To Illegal Immigran
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Power Poster
Joined: Aug 2004
Posts: 5,912
Outside A Garage
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The administration gets a failing grade (see, we're not all lock-step) in its handling with the illegal immigration problem and border security. Everytime they mention amnesty-oops-guest worker program, i want to hurl. I hoe it doesn't come to this but I fear it will take a terrorist attack by someone posing as a mexican immigrant walking across the border for people to wake up and realize that this really is a serious issue.
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#488018 - 01/25/06 05:55 PM
Re: Bank Offers American Dream To Illegal Immigran
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10K Club
Joined: Nov 2003
Posts: 12,846
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Quote:
The administration gets a failing grade in its handling with the illegal immigration problem and border security.
I don't know if I would fail them if you are grading on the curve (there are few in Washington deserving of an "A" or "B"); grading strictly on accomplishment, however, surely does merit an "F".
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#488019 - 01/25/06 07:24 PM
Re: Bank Offers American Dream To Illegal Immigran
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10K Club
Joined: May 2004
Posts: 10,124
Way, way south.
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I think someone needs to inform W-F that the tide of opposition towards illegal immigration is swelling, and that their customer base may deteriorate if they continue with this program.
Now don't get me wrong, I am not saying there is anything wrong with legal immigration, just the illegals.
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#488020 - 01/25/06 08:15 PM
Re: Bank Offers American Dream To Illegal Immigran
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Power Poster
Joined: Feb 2005
Posts: 6,559
Foxboro
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I am with Mark on this. What part of the word illegal do people not understand? There are plenty of legal ways to get into the country. We have got to crack down on the illegal immigration into this country.
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#488021 - 01/25/06 08:25 PM
Re: Bank Offers American Dream To Illegal Immigran
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Anonymous
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All I can say folks, is it's very easy to pontificate about this issue from our ivory internet towers.
Can I share something with you from the voice of experience? It may seem like a black white issue to you, until you're actually have to deal with real life people in your community.
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#488022 - 01/25/06 08:40 PM
Re: Bank Offers American Dream To Illegal Immigran
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Power Poster
Joined: Aug 2004
Posts: 5,912
Outside A Garage
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Yes. This is true. Come to California where illegal immigration is bankrupting our economy. Until you see how wages have been depressed, hospital emergency rooms closed, etc. you can't really see how big the problem is.
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#488023 - 01/25/06 09:06 PM
Re: Bank Offers American Dream To Illegal Immigran
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10K Club
Joined: May 2004
Posts: 10,124
Way, way south.
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Quote:
All I can say folks, is it's very easy to pontificate about this issue from our ivory internet towers.
Can I share something with you from the voice of experience? It may seem like a black white issue to you, until you're actually have to deal with real life people in your community.
Trust me, where I live the problem of illegals is pervasive, and will almost assuredly negatively affect the entire area economically (landscaping, agricultural, etc.), but that doesn't make it ok to keep allowing illegals to come in. At some point, someone is going to suffer, that is inevitable, but we have to get a better handle on this and we have to bite the bullet and do it sooner rather than later.
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Giddy up.
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#488024 - 01/25/06 09:43 PM
Re: Bank Offers American Dream To Illegal Immigran
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Platinum Poster
Joined: Dec 2002
Posts: 862
Mexifornia
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One of my friends who overstayed his visitors visa some 4 years ago is now the vice president of a national bank. He is still an Illegal immigrant but who cares?
This country only has immigration laws for those who want to do it legally - they make you wait for 10 years in your home country before you get a resident visa. But if you overstay your visitors visa or walk accross the boarder, then you can be president some day.
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#488026 - 01/25/06 10:19 PM
Re: Bank Offers American Dream To Illegal Immigran
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Platinum Poster
Joined: Dec 2002
Posts: 862
Mexifornia
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Don't get me wrong - I aslo care, because I had to wait 10 years to get legal and he just overstayed his visa. Now he is the VP on a six figure income living in a 3500 sq foot home. But I can't put the blame on him - this is what works here. If it was any other country he would have been kicked out - but not here - anything goes in this place, especially here in CA. Yeah man, it's cool man, everyone welcome man...
Last edited by Alien; 01/25/06 10:21 PM.
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If you have enough, would you know?
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#488028 - 01/25/06 10:31 PM
Re: Bank Offers American Dream To Illegal Immigran
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Anonymous
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Quote:
If it was any other country he would have been kicked out - but not here - anything goes in this place, especially here in CA. Yeah man, it's cool man, everyone welcome man...
And that's the heart of this issue. The United States is already too culturally and politically fragmented to do anything effective to turn the tide. If you've ever read Arthur Schlesinger's book "The Disuniting of America" you'll know exactly what I'm talking about.
Gripe about it all you want, but as someone has already suggested nothing real is going to happen on this front until a terrorist attack tied to illegal immigration happens. (And then, of course, our polical leaders will overreact and isolate us completely from the rest of the world -- or they will try to finally get serious about bringing about a one-world government. Don't scoff, if they can pull it off in Europe, why not the rest of the world too?)
Does this frighten you? The train has already left the station, my friends.
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#488029 - 01/25/06 10:38 PM
Re: Bank Offers American Dream To Illegal Immigran
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Platinum Poster
Joined: Dec 2002
Posts: 862
Mexifornia
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Quote:
Right now, the government hasn't really looked at the problem of illegal immigrants. If it becomes a real hot topic, this could change.
This is so funny - are you telling me that a Republican or a Democrat led govt will do anything about this? You mean they will actually give up cheap labor and votes in order to follow the laws - This will only become hot topic when [censored] freezes over, or when a nuke goes off in the process of being transported across the border from Mexico, or Canada for that matter.
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If you have enough, would you know?
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#488030 - 01/25/06 11:18 PM
Re: Bank Offers American Dream To Illegal Immigran
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10K Club
Joined: Nov 2003
Posts: 12,846
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Quote:
our polical leaders will overreact and isolate us completely from the rest of the world -- or they will try to finally get serious about bringing about a one-world government. Don't scoff...
I'm scoffing.
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