US EditionUS withdraws policy expressly barring lending bias against immigrants
The withdrawal removes protections against lending discrimination based on immigration status, aligning with Trump administration priorities and potentially limiting immigrant loan access.
- On Jan 12, the U.S. Consumer Financial Protection Bureau and the U.S. Department of Justice Civil Rights Division withdrew guidance barring lenders from discriminating against immigrants in Washington.
- The 2023 guidance from Democratic former President Joe Biden clarified lenders could consider immigration or citizenship status if it was not the only factor, reinforcing existing anti-discrimination law.
- Assistant Attorney General Harmeet Dhillon said the Biden-era guidance had been `ideologically-driven` and its withdrawal restored alignment with federal civil rights law, while Lori Sommerfield argued it whittles away Biden-era rules and fulfills President Donald Trump's priorities.
- Monday's policy shift removes an explicit agency safeguard that had limited discrimination, potentially denting immigrants' legal ability to access loans as lenders may require active Social Security numbers to apply for credit.
- Last April the administration began deploying tactics to encourage immigrants without legal status to self-deport, and Kris Kully said the withdrawal may be `all part of the same thrust` to make staying difficult.
10 Articles
10 Articles
US withdraws policy expressly barring lending bias against immigrants
The U.S. Consumer Financial Protection Bureau and the Department of Justice withdrew guidance expressly prohibiting lenders from discriminating against immigrants and non-citizens on Monday, potentially denting immigrants' legal ability to access loans.
CFPB, DOJ Withdraw Joint Fair Lending Guidance Statement
Tweet Washington, D.C. – The Consumer Financial Protection Bureau and the Department of Justice (together, the “agencies”) announced today that they have withdrawn a joint statement regarding the implications of a creditor’s consideration of an individual’s immigration status under the Equal Credit Opportunity Act (ECOA).On October 12, 2023, the agencies published a joint statement cautioning that creditor policies related to an applicant’s immi…
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