Posted on 10/16/2023 9:58:40 PM PDT by SeekAndFind
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."
Specifically, the agencies cited the provisions of the Equal Credit Opportunity Act (ECOA), which protects credit applicants from discrimination based on such characteristics as race, religion, sexual orientation, and national origin.
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.
“Lenders should not deny people the opportunity to take out a loan to buy a home, build their businesses or otherwise pursue their financial goals because of unlawful bias and without regard to their actual ability to repay,” Assistant Attorney General Kristen Clarke of the DOJ's Civil Rights Division said in a statement.
“Fair access to credit is crucially important for building wealth and strengthening household financial stability,” CFPB Director Rohit Chopra said in a statement. “The CFPB will not allow companies to use immigration status as an excuse for illegal discrimination.”
Bud Cummins, a former U.S. attorney, objected to the agencies' warning to banks and other financial institutions.
"DOJ and CFPB tell banks it might be illegal to refuse to loan money to people [who] broke federal law to reach the bank. You gotta be kidding me. The invasion of illegal immigrants is intentional and must be stopped," he wrote on X, formerly known as Twitter.
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, although in a joint statement, they acknowledged some gray area, namely that the act "does not expressly prohibit consideration of immigration status."
Some financial institutions have maintained blanket policies denying people credit based on their immigration status, without regard for their ability to repay, interpreting ECOA in a way that they believe shields them from liability, according to the agencies, which added that this is incorrect.
"A creditor may consider an applicant's immigration status when necessary to ascertain the creditor's rights regarding repayment," the agencies said, explaining that Regulation B, a rule that implements ECOA, expressly states that the only conditions under which immigration status may be considered is only to determine creditors' "rights and remedies regarding repayment" of a loan.
If financial institutions consider immigration status for any other reason, the agencies said they're probably breaking the law.
"Creditors should be aware that unnecessary or overbroad reliance on immigration status in the credit decisioning process, including when that reliance is based on bias, may run afoul of ECOA's antidiscrimination provisions and could also violate other laws," the agencies said.
The "other laws" mentioned could refer to the 1866 Civil Rights Act, also known as Section 1981, which the agencies said in their joint statement "has long been construed to prohibit discrimination based on alienage."
They said that courts have found that "ECOA's prohibition of national origin discrimination and Section 1981's prohibitions complement one another and that discrimination that arises from overbroad restrictions on lending to noncitizens may violate either or both statutes."
It's unclear whether any banks or financial institutions intend to challenge the DOJ and CFPB's interpretation of the law regarding the provision of loans to illegal immigrants.
For Heaven’s sakes!
How screwed up they’re making this once- wonderful country
Gee, the only “advantages” to citizenship are “voting” in fraudulent “elections” and Jury Duty.
/s
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. …That is a complete lie, and unlawful (to use their term) abuse of power.
Insanity
How is this possible? They aren’t even legal US citizens! It is madness. The American citizen is being kicked to the curb in favor of illegal third worlders.
No income, no residency, no green card, not citizens, none have been vetted for terrorist ties.
But if you are a citizen with a bad social credit score, then you are screwed.
I’ve never seen e man Eff Up a country so bad asBiden. And I thought Obama was horrible.
But there have been stories of canceled bank accounts and credit card accounts for gun shops and various GOP and pro-life groups.
That’s okay, I guess.
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In the past two years alone, JPMorgan Chase has denied payments or cancelled accounts associated with people and organizations who hold conservative values, such as former U.S. Ambassador Sam Brownback, the Arkansas Family Council and Defense of Liberty.Sep 13, 2023
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The Florida AG, along with 18 other state attorneys general argue Chase Bank “has not extended its openness and inclusivity to everyone,” pointing to the company’s “pattern” of denying service to religious and conservative-leaning customers, like the National Committee for Religious Freedom.May 2, 2023
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Bank of America Closes Christian Nonprofit’s Accounts.
Decision Magazine.
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“I’ve never seen e man Eff Up a country so bad asBiden. And I thought Obama was horrible.”
It’s not just Biden and Obama. Or even Clinton. It is the entire political class. The UniParty which is just a much Repub as Dem.
Illegals have been in the financial system for decades. The no income verification mortgages pre 2008 were designed for them, in part.
Repubs have been in power in the Congress the majority of the time since 1994. But you wouldn’t know it by the state of the country.
And it is true of every Western country. The betrayal by their “conservative” parties is just the same.
When the Left controls every single major institution in the country - this is what happens.
No other word for this madness.
I know how you feel.
That’s why the left should have no power whatsoever at all!
May this corrupt unholy regime and every last one of its supporters burn for all eternity!
Right.
No media to report the corruption and greed. No DOJ to step in. No one to stem the tide.....except that Trump fellow.
Well, at least there’s an address......
Illegals, under assumed names, owned the house next door. They were foreclosed on once deported. I made high bid immediately to purchase with a letter of credit. The bastards at the bank said I needed cash in the bank. I figured some bank employee was watching the loan and going to make the purchase. I still own the house. And it sets vacant.
Americans are being replaced by illegal drug smugglers and criminals that like to murder and steal. If they can’t put us IN jail, they will bring the mail to us by making the entire country one big jail
Driving into the supermarket parking lot other day. Busy. Frantic as usual for a Saturday, a truck stopped in front of us we could not move around it, not past it. Nor could anyone behind us
It was brand new Ford truck a $50,000 truck.
A young guy gets out of the driver’s seat - same age as my college grad friends’ kids paying off loans not getting married trying to get work paying 25% of their earnings to taxes. This guy waits for a woman (girlfriend?) and child to make it across the road to this truck, slooowwwly unload many bags into the back then she and the child slowly get in the truck, the guy takes the shopping cart, we’re all waiting for these characters while the truck is running, blocking everyone, he goes looking for a place to put the cart he slooowwwly comes back gets in the truck and slowly proceeds.
Not a look our way. Not a thanks. Not a ‘sorry but we’re taking over your country”
Just ‘we’re in charge, no need to comment.
Where does a 25 year old with a family, tattoos, long hair, no English, no social skills get a $60 k truck when I’m working my whole life, war veteran, putting in 12-14 hr days, educating kids, driving a little Nissan?
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