Judge Maxine M. Chesney
(Clinton Appointee)
Posted on 08/08/2017 7:11:41 AM PDT by Oldeconomybuyer
A federal judge in San Francisco has refused to dismiss a lawsuit accusing Wells Fargo bank of denying loans to immigrants who came to the U.S. as youngsters and have been allowed to remain here.
Denial of loans based on citizenship status violates a federal law, passed in 1870, and a California civil rights law, U.S. District Judge Maxine Chesney said Thursday in rejecting the bank’s attempt to dismiss the proposed nationwide class-action suit.
Wells Fargo, according to the suit, has a policy of granting loans only to U.S. citizens or to noncitizens who have become permanent legal residents and have a cosigner who is a U.S. citizen.
The plaintiffs are among more than 750,000 immigrants who entered the United States before age 16. The program is called Deferred Action for Childhood Arrivals, or DACA, and has an uncertain future under President Trump.
“This is a very significant ruling,” said attorney Victor Viramontes of the Mexican American Legal Defense and Educational Fund, a lawyer for the plaintiffs. “Wells Fargo argued that they could discriminate against DACA recipients, and the judge rejected that.”
Viramontes said other national banks have similar policies. “The entire industry should take note of this ruling and how they are treating people who are not yet permanent lawful residents,” he said.
(Excerpt) Read more at sfgate.com ...
Judge Maxine M. Chesney
(Clinton Appointee)
Has this stupida$$ considered they were denied because THEY CAN’T AFFORD TO PAY IT BACK???
hOW DO YOU FILL OUT PAPERWORK FOR SOMEONE HERE ILLEGALLY?
It’s the only good thing I’ve heard about Wells Fargo.
How about the special benefits provided by the USDA to special categories of farmers.
This group may not be ICE-ready.
I would say that this is a problem with the law. It is a risk to the bank if the legal status is undetermined. If the borrower can be deported at any time, the bank risks the loan going into default.
I would think that the law should be amended to allow banks to refuse to loan to those who’s residence status has not yet been established.
Has this stupida$$ considered they were denied because THEY CAN’T AFFORD TO PAY IT BACK???
...
Of course, they know that. They are here to loot the country so they don’t care.
More probable reason: if the loan applicant is deported, repayment is doubtful.
I think if I were Wells Fargo...I’d respond that for each person that applies and falls into this category...you might alert ICE to the name and address of the person, and see what the judge does next.
Illegal aliens. What part of that does this dyke judge not get
“refused to dismiss a lawsuit accusing “
Doesn’t say they won it, just that she’ll hear it. But I’m sure if the loaning agencies can prove the possibility of deportation, then that can become a factor in loan payment, thus default, with no way of collection.
The term, allowed to stay, can be misleading. Were they legally here, or just overlooked, and since it’s California, protected from federal recruitment for deportation. This article came from the SF Chronical which is a liberal source owned originally by the Hearst Family. Let’s just say they “mislead” the readers.
rwood
So now the credit score risk is independent the guy can run out the country with it? WTF. Federal Obamabank bull sht.
I don’t know about you but I would consider that someone is subject to deportation and should be deported a risk factor that shouldn’t be ignored.
Of course I’m a rational person: not a PCdiot.
No amnesty, no dreamers, kick them all out.
Once DACA is broomed due to the lawsuit by Texas and other states WF will be proven to have acted correctly.
good point!
IF the article is correct and the law exists, WF may well lose. However, it says “the lawsuit says” and for all we know there is no such policy, only a statistical assertion by the plaintiffs. If WF can show other underwriting criteria is notmet, then that’s different.
Make those who want an education loan compete for the limited dollars based on achievement tests after high school.
Make those who want an education loan compete for the limited dollars based on achievement tests after high school.
My daughter is in the mortgage business. Their bank gets chastised also. They all do. She says “they don’t even want mortgages. They just pretend they do. And they have no way to pay for it either.
Wells Fargo...the most hated company in the USA
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