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No More Credit Cards for Illegal Immigrants
The Credit Cardholders' Bill of Rights Act of 2009
Tell your Senators to Support the Vitter Amendment!
 
May 12, 2009
 
The Senate is currently debating a bill aimed at addressing the current turmoil that is our nation's credit markets — the Credit Cardholders' Bill of Rights Act of 2009 (H.R. 627).  This bill has already passed the House by a vote of 357 to 70 (Roll Call 228) two weeks ago. 

 
There are a number of conservative concerns with H.R. 627, namely that it further promotes excessive government intervention into the private market, that it will likely increase the rates and fees for everyone forcing companies to spread the risk acrossall consumers to compensate for the risky, irresponsible holders, and that it violates the commerce clause of the U.S. Constitution, which does not give the federal government the authority to dictate how private businesses are structured or operated.

 
Aside from these overall objections, Senator David Vitter (R-LA) is planning to offer an amendment to H.R. 627 on the Senate floor tomorrow which will grant rule-making authority to the Federal Reserve to set a minimum standard that credit card issuers establish a consumer's identity in order to prevent and deter illegal immigrants and terrorists from obtaining credit.

 
The regulations would simply require financial institutions to do the following:
  • Verify the identity of any person seeking a credit card account through one of four acceptable forms of identification, which include: 1) a social security card, 2) a driver's license issued by a state in compliance with the Real ID Act, 3) a passport, or 4) a photo ID card issued by the Dept. of Homeland Security.
  • Maintain records of the information used to verify the customer's identity.
  • Consult lists of known or suspected terrorists or terrorist organizations provided by the appropriate government agency.
Current loopholes in federal law are often abused by financial institutions.  In February 2007, the Wall Street Journal reported that Bank of America Corp., in an effort to expand their Hispanic consumer base, had quietly begun offering credit cards to customers without Social Security numbers, typically, illegal aliens.  In order to get around the identity verification requirements, Bank of America rewarded the unidentifiable consumer with a credit card as long as they held a checking account with any bank for three months without an overdraft violation. 

 
We need Sen. Vitter's amendment to remedy such abuses of the law!  This important amendment specifically stipulates which forms of I.D. are acceptable because they are the hardest ones to forge or duplicate.  This amendment will not only ensure that all future credit card accounts are opened solely by legal U.S. residents, but it will also help to curb the tide of taxpayer-draining illegal immigration by removing the magnet of easily obtainable credit.

 
We cannot allow congressional leaders to leave unchecked the wrongful practices that so greatly contributed to the U.S. credit market's current state.  With the ever-shrinking availability of credit today, the very least Congress can do is pass common-sense legislation to ensure that American citizens are being placed before illegals, criminals, and terrorists!

 
TAKE ACTION!

 
Please contact your Senators and tell them that you expect them to support Sen. Vitter's amendment to the Credit Cardholders' Bill of Rights Act!  Tell them to vote YES and to oppose any efforts to kill the amendment. The vote is expected to take place tomorrow, Wednesday, May 13th.
 

 
Watch this February 2007 CNN's Lou Dobbs Tonight segment where they report on the new Bank of America credit program offering credit cards to illegal immigrants.
 
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