The Biden administration issued a statement on Thursday advising banks not to take into account an applicant’s immigration status when approving credit.
The Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) told financial institutions in a joint press release that although it is legal to consider an individual’s immigration status while decided whether or not to lend money, excessive consideration could lead to a violation of the law.
The claim refers to the Equal Credit Opportunity Act (ECOA), which prohibits discrimination based on race, color, religion, national origin, sex, marital status, age, receipt of public assistance or good faith exercise of any rights under the Consumer Credit Protection Act.
It is noteworthy that citizenship status is not explicitly included as a protected characteristic under this law. (RELATED: Scandal: Biden Officials Helping Illegal Migrants Cross US Border)
The Consumer Financial Protection Bureau stated that it has received several reports from noncitizens with strong credit histories and ties to the U.S., who were denied credit cards, auto, student, personal and equipment loans based solely on their noncitizen status.
The joint press release states that both the CFPB and DOJ acknowledge that although the ECOA allows creditors to consider someone’s citizenship status, doing so may violate protection from discrimination on other factors such as national origin or race.
The Daily Caller adds:
“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,” Kristen Clarke, assistant attorney general of the DOJ’s Civil Rights Division, said in the press release. “This guidance reminds lenders that denying someone access to credit based solely on their actual or perceived immigrant status may violate federal law.”
…
DOJ did not immediately respond to a request to comment from the Daily Caller News Foundation. The CFPB deferred the DCNF to previously made statements.
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The banks are supposed to give loans to illegal immigrants??! They would have to be nuts to do this.
Yeah..another way to get money and not pay back
Color me confused but, if you are from another country, if you came here unlawfully, if you crossed the border while ignoring or breaking our immigration laws, then you shouldn’t be able to get a legal Social Security number, hence you should not be able to work here legally since you wouldn’t have a work permit without a SSN, therefore how and why would any legitimate lender/bank/credit card issuer expect you to be able to pay your debts?
The Biden Administration’s thinking isn’t just backwards, it is inside out. Those people are doing everything they can think of to screw up our country. It is sickening to watch.
Someone needs to stop that senile old fool we have pretending he knows what he’s doing. He only says and does whatever his handlers tells him, and they are who is the real danger to this country, and when the truth finally surfaces, we will see that they are more of the agents put in place throughout our government by that American hating obama. He continues his mission of trying to bring this country to it’s knees.
I have an excellent credit score but I was turned down for credit card because I am a white male. My retirement income is twice what many people earn working but I’m a WHITE MALE. Do I get to sue for discrimination?? No!! Why?? BECAUSE I AM A WHITE MALE. I guess if I was an illegal alien I would have no problem getting a credit card.
Violation of the law?!?! Their mere presence is a violation of U.S. immigration law! How dare Biden and his corrupt acolytes threaten banks that follow the law and protect their business and consummers. Oh, and government: Don’t you dare try to make taxpayers responsible for bailing out banks who incur losses from making bad loans to Illegal Aliens. Banks: “Just say no.”