As of March 5, there was a bill put into legislation that would make it harder for illegal immigrants to make financial transactions. The Photo Identification Security Act would require all US financial institutions to accept only secure forms of identification, making it harder and illegal, for illegal immigrants to receive federal benefits and to make financial transactions of any sort. In order to open a bank account, the bill would require either a foreign or U.S. passport, a Citizenship and Immigration Services photo ID card, or a Social Security card in conjunction with a state or federal ID.

However, this has not been the case as Wells Fargo evidence. Over the last six years, Wells Fargo has expanded their credit card service by over 75,000 people, with a large new addition of foreigners who were granted banking rights with the help of consular identification cards for Mexico, Argentina, and Guatemala, and with hopes to also soon accept consular ID’s from Colombia.

The legislation came about after both Wells Fargo and Bank of America had expressed recent interest in expanding their [pilot] credit card programs to larger Latino populations throughout the nation.