bank of america
bank of america: Page 1
Wachovia Bank admits laundering billions in illegal drug profits (+Bank of America; Wells Fargo) - 07/05/10
[Wachovia Bank]... made a habit of helping move money for Mexican drug smugglers. Wells Fargo & Co., which bought Wachovia in 2008, has admitted in court that its unit failed to monitor and report suspected money laundering by narcotics traffickers... The admission came in an agreement that Charlotte, North Carolina-based Wachovia struck with federal prosecutors in March... Wachovia admitted it didn’t do enough to spot illicit funds in handling $378.4 billion for Mexican-currency-exchange houses from 2004 to 2007. That’s the largest violation of the Bank Secrecy Act, an anti-money-laundering law, in U.S. history -- a sum equal to one-third of Mexico’s current gross domestic product...
[Wachovia isn't alone...] Miami-based American Express Bank International paid fines in both 1994 and 2007 after admitting it had failed to spot and report drug dealers laundering money through its accounts. Drug traffickers used accounts at Bank of America in Oklahoma City to buy three planes that carried 10 tons of cocaine, according to Mexican court filings...
[...BofA and another bank, HSBC, haven't been charged...]
...Large banks are protected from indictments by a variant of the too-big-to-fail theory...
At the end of 2008, Arnold Schwarzenegger launched "Bank on California", a California state program that encouraged the "unbanked" to open bank accounts. Since the "unbanked" are largely illegal aliens and since their wages are earned illegally, California's governor is using state resources to help private companies profit from illegal activity.
Now, Doug Irving of the Orange County Register offers "Poorest of poor urged to use banks" (link) about an affiliated local effort called "Bank on Santa Ana" (bankonsantaana.ca.gov). In his report, he tells his readers nothing about the immigration aspect and promotes the program rather than taking the banks to task. He mentions that the banks will accept Mexico's Matricula consular card as identification, without noting that that card is a very strong indicator that the bearer is an illegal alien.
As for those involved:
The city [of Santa Ana] and Orange County United Way are running the Bank on Santa Ana project. Eight banks and credit unions have signed up to participate and offer the special checking accounts: Bank of America, Bank of the West, Chase Bank, Citibank, Communidad Latina Federal Credit Union, Pan American Bank, Union Bank and Wells Fargo.
Please contact unitedwayoc.org/contact/contact.asp with your thoughts. Perhaps there's some way that their 501(c)3 status could be challenged due to this program.
The City of Los Angeles recently announced a new public-private partnership called "Bank on Los Angeles" (bankonla.com) that's designed to help 10,000 low-income residents who don't have bank accounts ("the unbanked") open up accounts. It's also open to illegal aliens , and that means that Los Angeles City will be encouraging corruption by helping major banks profit from money that was earned illegally.
Everybody is rushing to condemn AIG's bonuses, but this simple scandal is obscuring the real disgrace at the insurance giant: Why are AIG's counterparties getting paid back in full, to the tune of tens of billions of taxpayer dollars?
"The Global Agenda 2009" report says that "sovereign states do not adequately address problems reaching across borders" and that "international taxation" may be needed to generate the "additional resources" for "global governance... ...As current global governance problems come from market failures, sovereign failures and intergovernmental failures that cross boundaries, sacrificing sovereignty for greater gain may become an option," the report says.
The report says the UN's Law of the Sea Treaty, which is a top priority for Senate ratification under the Obama Administration, is a measure that has "earned the acceptance and compliance" of most nations. The treaty would turn over oil, gas, and mineral resources to the UN and authorize access to them through payment of a global tax to a UN body.
The so-called "Council on Global Governance" of the World Economic Forum includes Anne Marie Slaughter, dean of the Princeton University Woodrow Wilson School of Public and International Affairs who has been picked by Secretary of State Hillary Clinton to run the State Department's Office of Policy Planning. Slaughter wrote the 2004 book, A New World Order...
...[The report also says:] "Media has the capacity to connect the world, bridging cultures and peoples, and telling us who we are and what we mean to each other. The media can also ensure that no voice goes unheard," it says. "We believe that this new moment also calls for a new media platform, across all media channels, a global non-profit ‘CNN’ providing a new form of independent journalism to inform, illuminate and deepen knowledge about issues that improve the state of the world."
In brief, Arnold Schwarzenegger and the state of California are actively helping banks profit from money that was earned illegally.
[Bill author, supervisor Tom Ammiano] said banking institutions in San Francisco have signaled their willingness to accept the municipal ID card for the purpose of setting up accounts. He noted that people without bank accounts are frequently more vulnerable to theft and robbery.At least the first two banks listed as well as the Federal Reserve have in the past taken steps to profit from indirect illegal activity: the money that illegal aliens earn by working illegally. And, in fact, the Bush administration fought to allow banks to accept Mexico's ID card which is only of use to illegal aliens. And, from the Bank on San Francisco page (sfgov.org/site/bankonsf_index.asp?id=46628):
Officials with the city's Bank on San Francisco program, which helps people obtain bank accounts, said institutions such as Wells Fargo, Bank of America, Washington Mutual and US Bank had expressed interest in accepting the ID cards.
Bank on San Francisco is a city partnership with the Federal Reserve Bank. Although criteria for opening bank accounts are set in part through the USA Patriot Act, "to our knowledge that law is not a bar to a municipal ID," said David Augustine, spokesman for the city treasurer's office, which oversees the program.
Accept alternative forms of identification, such as consular identification cards. For many immigrants, the barrier to opening an account is having the proper documentation.The banks aren't going to earn that much off this; I'd imagine that due to the cost of living in Frisco they don't have a high illegal alien population (except for those living 20 to an apartment in shifts). However, this could be used as an entree to other cities, such as Los Angeles.
As for Ammiano, I'm not familiar with him and I don't know whether he's just a soft-brained far-leftie or whether he's trying to get a piece of the pie. However, I wouldn't be surprised to learn that he's received donations from those banks or he has some sort of other link. Those who live in the area are strongly encouraged to follow the money. His fellow supervisor Gerardo Sandoval is a strong supporter of illegal immigration.
Note that New Haven, CT has their own municipal ID. Their mayor John DeStefano has a possible financial interest and the person in his office who pushed the ID (Kica Matos) previously headed a group (Junta for Progressive Action) that is/was collaborating with the Mexican government.
UPDATE: The "Case Study" PDF at the sfgov link above has some interesting nuggets on the Bank on San Francisco program. First, they've got a section for those "thinking about starting something similar to Bank on San Francisco in your community", and I'm sure some are. As for how it all started:
Anne Stuhldreher, a Fellow at the New America Foundation, approached staff of San Francisco Mayor Gavin Newsom and City Treasurer Jose Cisneros with the initial concept. The Treasurer’s Office convened a working group of the staff of the Mayor and Treasurer, the Mayors Office of Community Development, New America Foundation, and EARN, a citywide nonprofit that helps low-income residents build assets. The Federal Reserve Bank of San Francisco joined the group soon after hearing about the program.To participate in the program, banks have to accept those foreign IDs which are of use only to illegal aliens. And:
From further research, the working group learned that Latinos who are un-banked often don't realize that you do not need a social security number to open an account and that they can open accounts with Mexican or Guatemalan Identification cards.In other words, you don't have to be here legally to have a U.S. bank account.
As for government corruption at the federal level:
[at a meeting] Michael Frias, of the Federal Depository Insurance Corporation [sic], discussed how the New Alliance Task Force is helping banks learn about how they can accept the Matricula Consular Card and develop products and services to help Latino immigrants, save, send money to their home countries, and buy homes... The New Alliance Task Force is a partnership between the FDIC, the Mexican Consulate, banks, community-based organizations, federal regulators, the secondary market, and private mortgage insurance companies. The partnership has opened 50,000 new bank accounts totaling $100 million.In other words, something akin to a federal agency is collaborating with a foreign government to help nationals of that government who are here illegally get home loans, and is assisting banks to profit from money that was earned illegally.
Pro-illegal immigration performance art (funding by Bank of America and Wells Fargo)
Wells Fargo and illegal activity
remesamex.gob.mx features Bank of "America", Wells Fargo, and Western Union
Citibank "recruiting" illegal aliens for home loans
The article "Mexican consul's biggest challenge is immigration" by Dianne Solis of the Dallas Morning News isn't as bad as other articles about a paper's local Mexican consul, but, as with the others, it avoids asking the tough questions, and it gives the consul an opportunity to make questionable statements unopposed. And, there's this:
The fastest-moving product [at the consulate] is the $37 matricula consular, a Mexican identification card, given at a clip of about 1,300 per week. But there are also birth and death certificates to issue. There are kiosks to spread the word on medical plans; videos that explain U.S. laws to lobby audiences; and a platoon of bilingual Bank of America workers who greet prospective customers in need of a special account to send money back to the homeland.
I'm currently trying to determine the exact relationship between the consulate and Bank of America; I'll update when I find out whether they have a satellite branch there or whether another branch sends their employers to go hang out in the lobby. In any case it helps show that money lies at the root of illegal immigration, and just how our system has been corrupted. Without the massive corruption of the Bush administration, banks would not be able to take those Matricula Consular cards, and BofA probably wouldn't be there.
The head of the outpost is Enrique Hubbard Urrea:
His father was fond of joking that the Hubbard surname was Aztec "for son of an Englishman," laughs Mr. Hubbard [editor's note: ho ho ho ho ho!]... Mr. Hubbard even personally answers e-mail from angry Texans... "Once in a while there is someone I can really get a dialogue with," Mr. Hubbard says. "But most are not interested in a dialogue. They just want to scream, yell and vent their hate. There is no other way to describe it."
I'm sure he's telling the truth! There's very little chance he could simply be trying to portray patriotic Texans who oppose an aggressive foreign government's attempts to profit from illegal activity as racist yahoos. Dianne Solis was right not to call him on that.
Bank of America loses contract over credit card for illegal aliens (Gaston County, NC)
Bank of America CEO Kenneth Lewis defiantly says won't cancel credit card for illegal aliens
The Bank of America boycott
Bank of "America": credit cards for illegal aliens
"Mexican Consulate seeking free [office] space [in Dallas]"
A controversial credit card program has led Gaston County leaders to reject Bank of America as the county's bank.
Gaston commissioners on Thursday declined to award a four-year contract for banking services to the Charlotte bank -- a decision that could cost the county about $120,000...
...[The credit-cards-for-illegal-aliens] aspect alarmed Gaston commissioners, who didn't want to support a company that supports illegal immigrants, said Mickey Price, the board's chairman a
Here's the explanation:
Families affected by a series of federal immigration raids this month spoke out in San Rafael on Tuesday at a news conference that showcased them as silhouetted subjects shrouded behind a privacy screen.Those "in the shadows" also made various claims, such as a supposed 14-year-old claiming he'd been punched in the jaw by a "law enforcement officer assisting in the raids".
Hosted by Canal Alliance at a building adjacent to its headquarters on Larkspur Street, the bizarre question-and-answer session - featuring men, women and children assigned pseudonyms - was aimed at telling their stories while hiding their identities to protect them from possible deportation, organizers said...
I don't know whether these people were actually illegal aliens, or were just far-lefties pretending to be same. I wouldn't be surprised if one or many of them were in the latter category. After all, it could happen, and that's all that matters, right?
I note also that Canal Alliance's "Corporate Partners" (canalalliance.org/AU_P_Don_Corp.shtml) include Bank of America and Wells Fargo, two banks that seek to indirectly profit from the fruits of illegal activity.
Former Republican Georgia Congressman Bob Barr - also an advisor to the ACLU, a group indirectly linked to the Mexican government - comes out in support of Bank of America's credit card for illegal aliens in "Immigration indigestion" (link). He ends up sounding like Bill Press, and makes the same fundamental error as he did:
When word surfaced recently that some banks, such as Bank of America, were allowing individuals to open accounts, apply for credit cards and obtain home mortgages even though they did not possess a Social Security number, it was not Big Government Liberals who rose up in arms to stop "greedy" financial institutions from offering such services. It was Small Government Republicans, like Colorado's Tom Tancredo and Californians Ed Royce and John Doolittle, who waxed indignant that banks engaged in such a free market activity as extending credit to someone who proved creditworthy but did not have a Social Security number.
The problem is that that isn't the "free market", it's the "corrupt market". Banks were not originally allowed to accept Mexico's Matricula Consular ID card, but the Bush administration fought to change that. That's despite both the FBI and the DOJ pointing out that the cards were not a reliable means of identification and would provide "an opportunity for terrorists to move freely in the United States". As detailed at the last link, the Mexican government is allowed to visit their outposts in the U.S. and distribute them like candy.
The "natural order" of things was not to accept those cards; political corruption and the Bush administration's support for corporatism led to the change.
Apparently, Chris Casacchia of the Business Journal of Phoenix contacted various banks asking whether - like Bank of America - they were going to give credit cards to illegal aliens. A JPMorgan Chase & Co. spokeswoman said they have no such plans. Compass Bank "were not prepared to comment" for the story.
However, as could be expected, the bank that put support for illegal immigration on the map says that they're considering it.
Wells Fargo vice president of regional banking communications Marge Rice says:
"We are exploring the possibility of offering unsecured credit cards to Wells Fargo checking account customers who do not have Social Security numbers... Wells Fargo recognizes a great need for equal access to financial products and services for all customers who want to build credit, establish financial security and achieve the 'American dream'".
If you're a member of the media, you can contact Wells Fargo at email@example.com. Others, please use this form: https://www.wellsfargo.com/contactus
If you'd like to move your accounts to a bank that supports our immigration laws, refer to this list.
Bank of America CEO Kenneth Lewis defiantly says won't cancel credit card for illegal aliens - 02/22/07
Monica Lozano, publisher of the nation's largest Spanish-language newspaper, has been nominated to Bank of America's board of directors...
...[BofA] has relationships with 48 percent of Hispanic households in its coast-to-coast territory, more than any other bank in the United States.
"At face value the program seems to be problematic," said Russ Knocke, a [Department of Homeland Security] spokesman. "It seems to be lending itself to possibilities of perpetrating identity theft or creating more risk for money laundering."Then, almost at the bottom of the article, we're treated to the news that another bank knows exactly who it's dealing with:
...[Rep. Tom Tancredo] said he sent a letter to U.S. Atty. Gen. Alberto R. Gonzales and Department of Homeland Security Secretary Michael Chertoff asking them to look into the program.
"I hope the administration will shut down this reckless and illegal program before Bank of America extends a line of credit to a potential terrorist," said Tancredo, a hard-line foe of illegal immigration...
Since then, Wells has opened more than 1 million accounts for Mexicans using the consular card. It also accepts Guatemalan, Argentine and Colombian identity cards. The assumption is that most immigrants using the cards to identify themselves are here illegally, Wells Fargo spokeswoman Trigg said, but the bank doesn't ask.
Bank of America is currently offering credit cards to residents of Los Angeles County who only have ITIN numbers and who don't have either a social security number or a credit history. That strongly implies that those credit recipients are illegal aliens. Later this year the bank hopes to expand the program nationwide.
For those who don't understand why this is horrifically bad, this bank is indirectly profiting from unlawful activity. And, they're explicitly going after that market. If you're one of those people who don't agree this is bad, imagine some form of illegal activity that you believe is bad for society. Then, imagine BofA going after that market.
And, the bank couldn't do this if they knew the government wasn't going to turn a blind eye to it. And, the bank no doubt donates to political candidates, and they will almost certainly only donate to politicians who will help the bank make more money.
Let's imagine that a few years from now BofA is making a handsome profit from this card. Then, some politician proposes forbidding banks from engaging in this practice. Do you think BofA is going to just let some politician cut off the money flow? Isn't it more likely that they're going to donate to those politicians who'll allow more illegal immigration and who'll support companies trying to profit from that indirect illegal activity? (A tangible example: when Tom Tancredo merely suggested taxing remittances, Western Union/First Data began publicly supporting - and funding - his Democratic opponent).
In summary, Bank of "America"'s actions rely on and will lead to political corruption. And, the bank would not do this if the Bush administration were not completely corrupt.
As for what you can do about this:
- Hopefully, BofA will eventually face both civil suits and criminal prosecutions for their scheme, and that might have a serious impact on their stock price. If you're a shareholder, express your concern. Even better, if you belong to a pension plan that invests in the bank, express your concern to the manager of the plan, and tell others to do the same.
- Watch for news reports and editorials concerning the card, and write letters to the ombudsman or editor, or leave comments.
- Contact your representatives and urge them to remove any loopholes that allow banks to engage in this activity or to investigate their activites.
- If you have any business with BofA, transfer it to some other bank; make sure they don't have a similar policy on ITIN numbers or Matricula Consular cards first.
- Stop supporting anyone linked to the Bush administration.
U.S. Treasurer wants Mexico to become even more reliant on remittances
Have Oklahoma banks admitted to aiding and abetting illegal immigration?
St. Peter Catholic Church, Jupiter Florida, supports illegal immigration
Arizona Republic almost does expose on Western Union
remesamex.gob.mx features Bank of "America", Wells Fargo, and Western Union
Profiting off illegal activity in Santa Ana, California
Georgia Sen. Sam Zamarripa involved with a bank
Bank of America was the title sponsor of the NCLR Annual Conference
Citibank "recruiting" illegal aliens for home loans
"Banks aim to help immigrants send money home"
Bank of "America"
Their money or your safety
UPDATE: An unconfirmed comment here says:
All of you Bank of America customers call the number on the back of your ATM cards and push ZERO to speak to a customer service representative. Then ask to fill out a voice of the customer form. The representative will enter your comments and it will get mailed to the quality assurance & customer satisfaction department. The bank takes these forms very seriously. Lodge your complaint and make your voice ring loud and proud to Bank of America President Ken Lewis.
UPDATE 2: According to this:
[Bank of America] executives said participants needed another form of identification, such as ID cards issued by foreign consulates.
In Mexico's case, that refers to the Matricula Consular card. In 2004, the Bush administration twisted arms to allow banks to accept that card as identification, despite both the FBI and the DHS admitting that the card was a security risk.
UPDATE 3: From this:
Bank of America wants all media inquiries about the credit cards for illegals program to be directed to Betsy Weinberger at 1-704-387-7376. This is your chance to be a John and Ken Assistant Producer for the day!
More than 430 Guatemalans [many or most illegal aliens] gathered at St. Peter Catholic Church Saturday and Sunday to meet with Guatemalan consulate officers and apply for the ID card.
The National Council of La Raza ("National Council of The Race"), a far-left, Ford Foundation-sponsored racial power group, will be holding its annual meeting at the Los Angeles Convention Center on July 8-11.
Well, no. In fact it reads more like BW promoting a wonderful new market, and describing how those corporations are basically thumbing their noses at what Americans want.
Bank of America plans to eliminate wire transfer fees for customers who send money to Mexico - the latest effort in the battle among big banks to win Hispanic customers.
Starting first in Chicago, the bank is eliminating a 3% foreign exchange fee and a $10 transfer fee for those who have checking accounts, and will roll out the program to New York and the rest of the country by year-end.
Until the no-fee program hits New York, the bank is also dramatically reducing
Bank of America is trying to block a shareholder motion that would limit ``white men'' to no more than half the nominations to its board.
The bank took steps to exclude the motion from the vote at the planned stockholders' meeting due to take place on April 27...
The bank, which last year acquired FleetBoston for $48 billion, has received outside recognition for its commitment to diversity.
Four years ago, it received the highest rating of any major bank in an NAACP surv
I'm all for family pride, but this guest editorial might be going just a tad too far. Is there a way to support family pride without also supporting divided loyalties? Yes, I know he proudly mentions in there his uncles who fought in WWII. What if WWII had involved Mexico? Would they still have fought on our side if they were dual citizens?
I created a thread here about the Dallas Morning News article "Mexican ID opens doors for undocumented workers in U.S." (link). The subtitle of the article is 'Critics say 'matricula' is a tool to facilitate illegal immigration', which in a way summarizes the whole article: it's mostly pro-Matricula Consular, with a few anti-MC comments thrown in for a semblance of balance.
Of particular note: