Biden Admin Orders Banks to Not Reject Illegals’ Loan Applications

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(Dmytro “Henry” Aleksandrov, Headline USA) The Biden administration told U.S. banks and other financial institutions that they can’t reject credit applications from illegal immigrants based solely or predominantly on the fact that they are criminals who broke the law by the way they entered this country.

In a recent statement, the Department of Justice [DOJ] and the Consumer Financial Protection Bureau [CFPB] said that it is unlawful to reject illegals for credit cards and various types of loans just because they are not citizens of this country.

Both the DOJ and the CFPB said that they were issuing a 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.”

The agencies specifically 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 Epoch Times reported.

The DOJ and the CFPB said that the banks that have blanket policies to deny loans to illegals may be breaking the law because the protections afforded by ECOA and other laws extend to alienage.

“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.

CFPB Director Rohit Chopra agreed with Clarke in the same statement.

“Fair access to credit is crucially important for building wealth and strengthening household financial stability. The CFPB will not allow companies to use immigration status as an excuse for illegal discrimination,” he wrote.

However, Bud Cummins, a former U.S. attorney, objected to the globalist warnings by the agencies.

“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.

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