By last week, when Bank of America’s top executives took up positions in what amounted to a seven-hour conference call with Wall Street, there was barely a mention of the controversy over the company’s decision to offer credit cards to customers who may not have Social Security cards. Only one question came up at the conference call, asked and answered in a matter of minutes. And despite the loud protests and threats from those who saw BofA’s decision as a flagrant threat to the nation’s security, executives of the bank said they saw little reason to believe there would be any long-term impact on their business from the fallout. Which raises the question, will other banks follow? What such a program can offer is not just a few more credit card customers. It can help build multi-layered banking relationships that ultimately keep customers from moving to other banks, many say. “You can attract a new customer with a credit card, and maybe they’ll be enticed to open another account or maybe a certificate of deposit,” said Tracey Mills, a spokeswoman for the American Bankers Association. When news broke last month that BofA had quietly begun testing a pilot program to offer secured credit cards to customers with taxpayer identification numbers and other forms of identification in lieu of Social Security cards in somewhat more than 50 of its Los Angeles bank stores, the move caused an outcry from a number of groups who claimed that the idea threatened the country’s security. The BofA program requires customers to pay a security deposit of $99, refundable if the account remains in good standing for a period of time. The limit is typically $500 to start with an annual interest rate of more than 21 percent. To be sure, BofA got a few shredded credit cards returned and some customers did close their accounts, but by and large, the controversy passed uneventfully. And by last week, when BofA held its conference call with The Street, executives fielded only one question about their pilot, and reported that there was little impact from their move. “Customer originated account closures have been unchanged, and the noise level in our banking centers has subsided,” said Ken Davis, CEO of Charlotte-based Bank of America in the conference call. “Nobody’s profit plan has been changed as a result of this.” For Bank of America, the move comes amidst a larger push to build its consumer segment. BofA in recent weeks launched a major advertising campaign for the first time in several years as it moves to leverage a national presence created from recent acquisitions. According to published reports, the bank has lagged behind its rivals, spending just $154 million on advertising, about half of what Citgroup spent, in the first nine months of last year. BofA has made no secret of the fact that building its consumer business is central to its growth strategy and the credit card pilot is part and parcel of that initiative. In a letter to the Wall Street Journal when the controversy first broke, BofA’s Davis wrote, “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 we hope will become loyal Bank of America customers in the future as their financial needs grow.” So far, there have been no other banks that have stepped into the fray. “What I can tell you is we’re always exploring new ways to serve our customers, but beyond that we don’t discuss the details of our marketing strategy,” said Lisa Westermann, a spokeswoman for Wells Fargo Card Services, responding to a question about whether the bank would consider a similar program. But it’s unlikely that competitors will leave BofA to mine this untapped market alone. Wells, which was the first bank to allow customers to open accounts using matricula cards issued by the Mexican consulate, was soon joined by a number of rivals, all seeking new, untapped markets. That can be especially important in the credit card segment, which is among the most competitive in the industry. “There are more than 6,000 issuers of credit cards,” said Mills at the ABA. “It’s a very mature marketplace, so for a card issuer to grow their business, they basically have to lure customers from another card.” Not so with a new market of customers as are immigrants who, until now, have not been able to qualify for credit cards. But more important, the credit card business has the potential to be just the starting point for a longer-term banking relationship that all bankers seek. “Once you get a customer in the beginning you tend to keep them,” said David Pringle, an independent analyst and consultant in Baltimore who covers BofA. “And two, most (immigrants) who come here work like dogs and do better, so there’s more business to be done with them over time.” Among Hispanics particularly, a number of demographic factors help to support the notion that BofA’s credit card program is likely to reap benefits on a broader scale. Besides the sheer numbers of Latino immigrants, marketers say that, as a group, they tend to be more loyal to brands and businesses and more inclined to use a number of different products. “There’s a lot of potential there,” said Mills. “They are loyal customers, their desire for home ownership and it’s a tight knit community. If you’ve got a happy customer, word of mouth could bring them along. Research shows that it’s like planting a seed.”