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Message
Biden Admin Orders Banks to Not Reject Illegals’ Loan Applications.
Posted on 10/19/23 at 1:37 pm
Posted on 10/19/23 at 1:37 pm
quote:
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.
Headline USA
Posted on 10/19/23 at 1:38 pm to 1BIGTigerFan
I swear that the powers that be want the banking system to collapse. I can't find any other explanation.
The banks are already tilting.
The banks are already tilting.
Posted on 10/19/23 at 1:38 pm to 1BIGTigerFan
So, how do you issue credit to someone that is here illegally and probably cannot prove who they are?
Posted on 10/19/23 at 1:41 pm to 1BIGTigerFan
FJB so if some of these criminals default on loans who picks up the tab? Taxpayers? Banks? Depositors? Shareholders? This is bullshite just like giving Palestinians money is bullshite. Let’s spend money on law breakers and terrorists America Last.
Posted on 10/19/23 at 1:43 pm to 1BIGTigerFan
quote:That's not what the text you quoted says.
Biden Admin Orders Banks to Not Reject Illegals’ Loan Applications.
Posted on 10/19/23 at 1:43 pm to Lynxrufus2012
I am pretty sure "because I said so" will not work with most banks.
Posted on 10/19/23 at 1:44 pm to 1BIGTigerFan
I realize Joe believes that he’s a Caesar with absolute powers, but even he can’t do this. Somebody needs to remind him.
Posted on 10/19/23 at 1:48 pm to 1BIGTigerFan
quote:
Biden Admin Orders Banks to Not Reject Illegals’ Loan Applications.
Who covers the loan when most of them don’t pay one cent back?
Posted on 10/19/23 at 1:48 pm to 1BIGTigerFan
Well the jackass Dems don't care because they have already laundered billions and trillions back to themselves to avoid shopping at Wal Mart. These idiots certainly don't give a ratsass about us.
Posted on 10/19/23 at 1:51 pm to 1BIGTigerFan
Prosecute for violation of oath of office.
Posted on 10/19/23 at 1:52 pm to 1BIGTigerFan
Every headline I see like this leads me to buy more ammo.
Need a storage facility now. All going to come crashing down.
U.S. had a good run.
Need a storage facility now. All going to come crashing down.
U.S. had a good run.
Posted on 10/19/23 at 1:56 pm to 1BIGTigerFan
But with AML/KYC (anti money laundering/know your customer) regulations, they might be breaking the law.
Posted on 10/19/23 at 1:58 pm to TDTOM
The admin will try to sanction banks who don’t do this.
Despite, you know, illegals not being able to prove who they are, that they are in the country legally, most likely what their verifiable income is, etc. All shite needed to figure out if someone is a good risk.
Despite, you know, illegals not being able to prove who they are, that they are in the country legally, most likely what their verifiable income is, etc. All shite needed to figure out if someone is a good risk.
Posted on 10/19/23 at 2:10 pm to HottyToddy7
quote:
I swear that the powers that be want the banking system to collapse. I can't find any other explanation.
The banks are already tilting.
Look around at everything they have done and are doing....it's not just the banking system they want to collapse!
The federal government can't legally tell banks who can and can't be issued credit. Can they? How can they enforce that?
This post was edited on 10/19/23 at 2:12 pm
Posted on 10/19/23 at 2:10 pm to 1BIGTigerFan
CFPB and Biden can suck my balls
Posted on 10/19/23 at 2:13 pm to 1BIGTigerFan
quote:
based solely or predominantly on the fact that they are criminals who broke the law by the way they entered this country.
what if its based solely on the fact of lack of recourse for recoup.
Posted on 10/19/23 at 2:13 pm to 1BIGTigerFan
But you ain’t black.
Lol, democrats fricking over blacks again.
Lol, democrats fricking over blacks again.
Posted on 10/19/23 at 2:14 pm to 1BIGTigerFan
quote:
Biden Admin Orders Banks to Not Reject Illegals’ Loan Applications.
Yeah, so accept the physical application and then deny it.
No problem.
Shouldn't even have to accept it, but accept and approve are quite different.
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