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Author Topic: Biden Admin Threatens Banks That Refuse To Lend Money To Illegal Immigrants  (Read 347 times)

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Offline rangerrebew

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Biden Admin Threatens Banks That Refuse To Lend Money To Illegal Immigrants
« on: October 14, 2023, 07:52:43 pm »
Biden Admin Threatens Banks That Refuse To Lend Money To Illegal Immigrants
 
 
WILL KESSLER
CONTRIBUTOR
October 12, 2023
4:15 PM ET
 

The Biden administration released a statement Thursday warning financial institutions against using a person’s immigration status in credit applications.

The Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) released a joint statement telling financial institutions that while it is not illegal to consider a person’s immigration status in the decision on whether to lend money, an overreliance on it could run afoul of the law, according to the statement. The statement implicates the Equal Credit Opportunity Act (ECOA), which makes it illegal to discriminate on the basis of race, color, religion, national origin, sex and more in considering a person’s credit application as the mechanism, even though the law does not list citizenship status as a protected attribute. (RELATED: New Mexico Will Allow Illegal Migrants To Obtain Law Licenses)


“Fair access to credit is crucially important for building wealth and strengthening household financial stability,” Rohit Chopra, CFPB director, said in a press release. “The CFPB will not allow companies to use immigration status as an excuse for illegal discrimination.”

https://dailycaller.com/2023/10/12/biden-admin-threatens-banks-refuse-lend-money-illegal-immigrants/
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The legitimate powers of government extend to such acts only as are injurious to others. But it does me no injury for my neighbor to say there are twenty gods, or no god. It neither picks my pocket nor breaks my leg.
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Offline rangerrebew

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Re: Biden Admin Threatens Banks That Refuse To Lend Money To Illegal Immigrants
« Reply #1 on: October 14, 2023, 07:53:19 pm »
*sswipe!
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The legitimate powers of government extend to such acts only as are injurious to others. But it does me no injury for my neighbor to say there are twenty gods, or no god. It neither picks my pocket nor breaks my leg.
Thomas Jefferson

Offline mountaineer

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Re: Biden Admin Threatens Banks That Refuse To Lend Money To Illegal Immigrants
« Reply #2 on: October 15, 2023, 07:11:38 pm »
Quote
REPORT: Biden Admin Threatening Banks To Lend Money To Illegal Immigrants
By Chris Powell
October 13, 2023

The Biden administration, through the Consumer Financial Protection Bureau (CFPB) and the Justice Department, has issued a stern warning to financial institutions. The message? Banks and lenders might face repercussions if they consider immigration status as a primary factor when denying credit.

A joint statement from CFPB and the Justice Department comes on the heels of numerous reports suggesting that individuals are being denied credit solely based on their immigration status. While the Biden administration frames it as a fight against discrimination, many have seen it as yet another step towards prioritizing illegal immigrants over legal citizens. ...
https://trendingpoliticsnews.com/report-biden-admin-threatening-banks-that-dont-lend-money-to-illegals-mace/
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