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#899288 - 02/04/08 07:53 PM loans to aliens
4newt Offline
Gold Star
Joined: Nov 2003
Posts: 277
East Texas
I may wish I had never posted this, but here goes.........

How are you handling loan requests from someone who's SS card reads "VALID FOR WORK ONLY WITH DHS AUTHORIZATION"? And do you treat a personal expense loan different from a purchase of business loan?

Thanks for any input that you can give.

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#899947 - 02/05/08 03:45 PM Re: loans to aliens 4newt
4newt Offline
Gold Star
Joined: Nov 2003
Posts: 277
East Texas
Have an answer..........
We would need to use other forms of ID for CIP purposes and not get into a discrimination issue. I still question, since these cards are supposedly temporary, how long is temporary???

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#900554 - 02/05/08 10:44 PM Re: loans to aliens 4newt
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,227
Galveston, TX
Well - a SS Card is not identification, so you would have to revert to your CIP requirements for identification purposes. There is no requirement that you loan to non-US citizens and it would not be discriminatory as long as you had that policy for people from the north, south, east and west of our borders. From a safety and soundness perspective, you should go through the standard steps; likely continuation of income and sufficiency of collateral (hopefully it is not portable).
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