Loading ...Biden Admin Orders Banks Not To Reject Illegal Immigrants’ Loan Applications
The Biden administration has warned U.S. banks and other financial institutions that they can’t reject illegal immigrants’ credit applications based solely or predominantly on their immigration status.
The Department of Justice (DOJ) and the Consumer Financial Protection Bureau (CFPB) said in a recent statement that rejecting illegal immigrants for credit cards and various types of loans just because they are noncitizens is unlawful.
The two agencies stated that they were issuing the warning “because consumers have reported being rejected for credit cards as well as for auto, student, personal and equipment loans because of their immigration status, even when they have strong credit histories and ties to the United States and are otherwise qualified to receive the loans.”
The agencies argue that protections afforded by ECOA and other laws extend to alienage, so banks that have blanket policies to deny loans to illegal immigrants may be breaking the law.
Might be a good time to re-evaluate any stock investments you might hold in the banking sector………
Hahaha, but it’s okay to debank those who hold “fringe beliefs”.
And if you are a citizen than FORGET ABOUT IT!
No loans for your lifetime contribution — in fact the gov’t would prefer that you just die — at least then the illegal immigrants will have someplace to live!
So,they are suppose to make loans to customers who at any time could be deported. And how do they then get repaid? Sheer lunacy and stupidity.
Econ Ninja has a darker take on what this is about. Funding of the true insurrectionists….
https://www.youtube.com/watch?v=LqSQgmHPV2U