Bank of America has definitely got balls. They've just announced they'll be launching a credit card to target illegal immigrants in the US, albeit higher rates. This move has inevitably sparked alot of debate but as a card / marketing guy, I'm for the move because I'm looking at it as another sub-prime segment being targeted. From a risk management perspective, anyone falling into this segment is the same regardless of nationality, i.e. immigrant vs. citizens. This is a classic case of pushing the boundaries in terms of marketing thinking but I am however unsure if the response if going to be great because my feel is that illegals would rather remain in their anonymity and revel in their freedom. Personally, I'd approach this illegal immigrant segment differently. I'd find ways to integrate, structure and facilitate their current informal banking activities ala adaptations of thoughts from Hernado DeSoto plus Mohamed Yunus plus Zopa plus Dango system.
If you're asking how big this market segment is, here's a picture from one of their boycott rallies.
pictures from www.blog.kansascity.com
pictures from www.blog.kansascity.com
