ank of America Corp., under siege from criticism that it is aiding illegal aliens and possible terrorists, defended a new program to issue credit cards to customers who lack Social Security numbers.

The Wall Street Journal brought the program to light in a Feb. 13 article. Thereafter, a coalition of organizations in favor of strict immigration policies called for a boycott of the bank.

"First, the program is not about illegal immigrants, and never was," BofA's Chairman and Chief Executive Officer Kenneth D. Lewis wrote in a bank-issued statement published by the Journal Feb. 22. "It is designed to help Bank of America customers build a credit history. Second, we believe we have an obligation to serve all those in our country who are legally eligible to receive services. To do less would be discriminatory and unfair," Lewis wrote.

Customers without the national ID number are eligible for credit cards only after they've had an account with the bank for at least three months with no overdrafts, the Journal reported.

"The bank requires that all applicants provide us approved forms of ID, including an unexpired, U.S. government-issued or foreign government-issued identification card," Lewis wrote. "In fact, while many people legally in our country do not possess Social Security numbers, 84% of the participants in our pilot do."

He stated that a law passed by Congress after 9/11 allows financial institutions to accept official IDs issued by foreign governments, including the matricula consular, an ID issued by the Mexican consulate to nationals living outside Mexico. The card is a "key tool in our efforts to ensure that our financial systems are not used for illegal purposes," Lewis added.

The program began in recent months at Los Angeles County bank branches. The cards carry an annual percentage rate ranging between 17% and 21%, said bank spokeswoman Betsy Weinberger. The bank would not disclose the number of cards it has issued under the program.

Serving the underbanked

"Bank of America does not deliberately market financial products and services to illegal immigrants from any country," Lewis stated.

"We created this pilot program in Los Angeles to help Bank of America customers with little or no credit history build a solid credit history with a leading bank, and to strengthen our relationships with individuals and families" who may turn to the bank for their future financial needs.

The National Illegal Immigration Boycott Coalition called for its members to close their accounts at the bank. BofA had not seen any unusual volume of calls or account closings, Weinberger said Feb. 23, more than a week after the appeal. After listening to the views of its customers, BofA made a decision to continue its pilot program in Los Angeles, Lewis stated.