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Posted on 07/13/2026 12:10:12 PM PDT by CFW
The Trump administration on Monday announced sweeping new banking rules aimed at cracking down on lending to illegal immigrants, requiring lenders to consider that borrowers without legal work authorization may pose “elevated credit risk,” a move that supporters say could improve housing affordability for Americans.
The rules require banks and credit unions to account for the possibility that an illegal immigrant borrower could lose his job, be unable to find lawful work, or be removed from the country before repaying a mortgage, auto loan, credit-card balance, or other debt.
The Office of the Comptroller of the Currency, the Federal Deposit Insurance Corp. and the National Credit Union Administration issued the joint guidance under President Donald Trump’s May executive order, “Restoring Integrity to America’s Financial System.”
The agencies urged banks to take in account that illegal immigrants may pose increased risks. Banks were told to identify, measure, and control those risks through their underwriting and loan-monitoring systems.
[snip]
The approach resembles the “transition risk” framework regulators previously applied to climate policy. Banks were expected to consider whether future government action or changing consumer preferences could weaken a borrower or strand an asset. Here, the transition risk is immigration enforcement and the possibility that a borrower’s income disappears before a loan is repaid. Banks were also told to examine their exposure to industries, employers, and geographic regions that could be disproportionately affected by the prevalence of illegal immigrants.
(Excerpt) Read more at breitbart.com ...
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Here is a thread on FR regarding a Breitbart article from 5 years ago.
“Big Banks Throw Support Behind Joe Biden’s Big Amnesty for Illegal Aliens”
https://freerepublic.com/focus/f-news/3962811/posts
Protected classes. Banks are afraid of discrimination suits by the government. A very legitimate fear under Dem control at both State and Federal level.
$100,000 loan to “Name Not Given” and guess who has to pay for it
And in a month or two, the federal judge will rule it unconstitutional.
Somalians are said to have false claim cases for billing Medicare and Medicaid totaling in the millions of dollars a month for nonexistent clients and empty offices for false services in Minnesota.
Wouldn’t the banks like to have that money to use? Hands off our valued customers.
Mr. Drysdale to Jed Clampett hearing Jed was impulsively going to withdraw all his millions due to a false report:
“Your money is one of the pillars of this bank.”
"The [Trump administration's] guidance completes the reversal of the Biden administration’s position. In October 2023, the CFPB and the Justice Department’s civil rights division issued a joint statement urging lenders to ignore a potential borrower’s immigration status, a move that encouraged lending to illegal aliens. Critics said the Biden policy blatantly ignored statutes authorizing banks to take into account immigration and work authorization status. In January, the two agencies withdrew it, saying it conflicted with the express language of the Equal Credit Opportunity Act."
Sounds like banks are going to have to start compiling lists of borrowers who are illegals.
This is great. It should have been done 18 months ago.
WHEN I MOVED TO N NEVADA 21 YEARS AGO——WELLS FARGO & B OF A WERE HEAVILY ADVERTISING THAT “NO ID WAS REQUIRED “TO OPEN AN ACCOUNT.
I STICK WITH SMALLER STATE BANKS-—AND I HAD TO PROVIDE A LOT OF ID.
LIVED 12 + YEARS AT PRIOR PROPERTY & OVER 27 YEARS AT FIRST PROPERTY. AM IN #3 PROPERTY SINCE 1966.
also,
when foreign capital floods into a USA housing market, it can push prices up far beyond what local American workers can afford.
since much or most of this buying is ALL CASH, the banks don’t have a direct stake. But, realty associations (whose commissions, fees are traditionally set based on achieved resale prices) AND most owners (who may wish or need to sell someday).... do have stakes in allowing foreigners to buy up USA housing.
Also, TAX COLLECTORS and the many “public agencies” they use our tax money to fund.....and their labour unions....do have stakes.
“Somalians are said to have false claim cases for billing Medicare and Medicaid totaling in the millions of dollars a month for nonexistent clients and empty offices for false services in Minnesota.
Wouldn’t the banks like to have that money to use? Hands off our valued customers.
Mr. Drysdale to Jed Clampett hearing Jed was impulsively going to withdraw all his millions due to a false report:
“Your money is one of the pillars of this bank.””
I think whichever Minnesota bank was handling the Somalian corruption money should be investigated. They had to know something was fishy. The money that was withdrawn in cash and flown out of the country had to come from somewhere. Which bank gave them that cash? Did they file a suspicious activity report?
You raise excellent questions. A shame our DOJ and others don’t have as much curiosity.
If I read hour post correctly, that’s 98 years.
It’s considered a means to launder money if you’re a U.S. citizen, but not if you’re a cartel sending your members into multiple banks with various IDs.
Remember when the dims and obama rained down on the banks for “redlining” and denying loans to people with bad credit scores? Then threatened the banks charter if they didn’t get in line.
Illegal Aliens have NOTHING lets loan them truck loads of money
Seems like treating the issue with kid gloves. How about jailing bankers and executives giving out loans to illegal immigrants, and to be held personally responsible.
8 USC 1324
(iv) encourages or induces an alien to come to, enter, or reside in the United States, knowing or in reckless disregard of the fact that such coming to, entry, or residence is or will be in violation of law; or
And if they fraudulently apply, lock ‘em up. Then deport.
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