Bank of America to offer bank accounts, credit cards to illegal immigrants

LOS ANGELES -- There's increasing outrage over Bank of America's plan to offer bank accounts and credit cards to illegal immigrants.

Many in Congress see it as a dangerous precedent that could open the country up to money laundering and drug money being sent through American banks.

Los Angeles County is one of the largest concentrations of illegal aliens in the country.

Bank of America is "reaching out to the community" to help people open bank accounts and then qualify for a credit card.

Bank of America is tapping a resource of people in our country, knowing that they deal only in a cash economy, is going after that money, and making a profit off of it -- making a profit off of illegal entry into the United States.

For identification Bank of America accepts the Individual Taxpayer Identification Number, a taxpayer ID number that illegal aliens commonly use instead of social security numbers.

Officials at the office of the comptroller of the currency confirmed today anyone with an ITIN, along with name address and date of birth, is allowed to open a bank account.

The bank then has to verify the information with another government-issued photo ID document. But that document can be issued by any government. So illegal immigrants often use matricula consular issued by the Mexican government, easily forged or available on the black market.

No passport is required. No visa is required. And once a bank account is opened, ID doesn't have to be rechecked for a credit card.

Sen. Richard Shelby, the ranking member of the Senate Banking Committee, released a statement saying he wants to ensure that the financial services industry is not offering products or services that facilitate encourage or even reward illegal immigration.

Fifty-one branches of Bank of America in Los Angeles County are launching the promotion.

Bank of America says they are simply going after an existing customer base in the Los Angeles area.