CHARLOTTE, N.C. — A new plan from Bank of America to issue credit cards without requiring social security numbers, most useful in working with undocumented immigrants, has begun to stir controversy around the country.
In media reports, the bank said it would require the applicants to have individual taxpayer identification numbers issued by the IRS or matriculas consular, the identification the Government of Mexico provides to Mexican nationals in this country who are otherwise undocumented.
The bank has declined to grant interviews on the program.
The bank expanded the program to 51 branches in and around Los Angeles after testing it at five branches there, spokeswoman Betsy Weinberger said. The plan is utilizing "judgmental lending" practices employed by FIA Card Services, the former MBNA Corp. that BofA bought in January 2005. "Judgmental lending" analysis of creditworthiness goes beyond traditional credit scores and leaves lending decisions up to specialists, she explained.
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