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Biden Admin Orders Banks Not To Reject Illegal Immigrants' Loan Applications

Summary by Ground News
Some financial institutions have maintained blanket policies denying people credit based on their immigration status, without regard for their ability to repay, the agencies said. According to the Center for Immigration Studies, there were roughly 11.35 million illegal immigrants residing in the United States as of January 2022. The agencies said that ECOA protections extend to alienage.
DisclaimerRead with caution - this story is only being covered by one news source that has a ‘low factuality’ rating, which means the outlet has a history of poor reporting practices. Learn more about factuality ratings here.

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Zero HedgeZero Hedge

Biden Admin Orders Banks Not To Reject Illegal Immigrants' Loan Applications

Biden Admin Orders Banks Not To Reject Illegal Immigrants' Loan Applications Authored by Tom Ozimek via The Epoch Times (emphasis ours), 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. Illegal immigrants climb a section of the U.S.–Mexico border fence in Tijuana, Mexico, on April 29, 2018. (Dav…

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dailyfetched.comdailyfetched.com

Biden Admin Orders ALL Banks to Accept Illegal Immigrants' Loan Applications

The Biden administration has ordered all US banks and financial institutions to accept illegal immigrants’ credit card and loan applications, which will be based solely on their immigration status. The Department of Justice (DOJ) and the Consumer Financial Protection Bureau (CFPB) said that rejecting illegal immigrants for credit cards just because they are noncitizens is unlawful. The two agencies said they were sending out the warning “because…

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Zero Hedge broke the news in United States on Tuesday, October 17, 2023.
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