Immigration Watch International (2): Biden Administration Sends Banks a Message About Lending Money to Illegal Immigrants

Tuesday, October 17, 2023

Biden Administration Sends Banks a Message About Lending Money to Illegal Immigrants

The Consumer Financial Protection Bureau and the Justice Department released a joint statement on Thursday notifying financial institutions that they cannot discriminate against illegal immigrants.

“All credit applications are protected from discrimination on the basis of their national origin, race, and other characteristics covered by the Equal Credit Opportunity Act, regardless of their immigration status,” the reminder states.

DOJ and CFPB said they released the statement over reports of consumers being denied credit cards as well as auto, student, personal, and equipment loans due to their immigration status.

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

While the Equal Credit Opportunity Act allows a creditor to consider immigration status when determining the “creditor’s rights regarding repayment,” DOJ and CFPB emphasized that unnecessary reliance on a person’s immigration status may violate federal law.

“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,” said Assistant Attorney General Kristen Clarke of the Justice Department’s Civil Rights Division. “This guidance reminds lenders that denying someone access to credit based solely on their actual or perceived immigrant status may violate federal law.”

https://townhall.com/tipsheet/leahbarkoukis/2023/10/15/biden-admin-sends-message-to-banks-over-lending-to-illegal-immigrants-n2629805

***********************************

My other blogs. Main ones below:

http://edwatch.blogspot.com (EDUCATION WATCH)

http://dissectleft.blogspot.com (DISSECTING LEFTISM)

http://antigreen.blogspot.com (GREENIE WATCH)

http://pcwatch.blogspot.com (POLITICAL CORRECTNESS WATCH)

http://snorphty.blogspot.com (TONGUE-TIED)

http://australian-politics.blogspot.com/ (AUSTRALIAN POLITICS)

http://awesternheart.blogspot.com.au/ (THE PSYCHOLOGIST)

http://jonjayray.com/blogall.html More blogs

*******************************

No comments:

Post a Comment

Background

Postings from Brisbane, Australia by John Ray (M.A.; Ph.D.) -- former member of the Australia-Soviet Friendship Society, former anarcho-capitalist and former member of the British Conservative party.

Why is "La Raza" the one Spanish term that is NEVER translated in the American mass media? Because translating it would make it a lot less respectable. It means "THE RACE" -- The mixed Hispanic "race" of Mexico. Racism is fine South of the Rio Grande only, apparently.

The "line" of this blog is that immigration should be SELECTIVE. That means that:

1). A national government should be in control of it. The U.S. and U.K. governments are not but the Australian government has shown that the government of a prosperous Western country can be. Up until its loss of office in 2007, the conservative Howard government had all but eliminated illegal immigration. The present Leftist government has however restarted the flow of illegals by repealing many of the Howard government regulations.

2). Selectivity should be based on "the content of a man's character, not on the color of his skin", as MLK said. To expand that a little: Immigrants should only be accepted if they as individuals seem likely to make a positive net contribution to the country. Many "refugees" would fail that test: Muslims and Africans particularly. Educational level should usually be a pretty fair proxy for the individual's likely value to the receiving country. There will, of course, be exceptions but it is nonetheless unlikely that a person who has not successfully completed High School will make a net positive contribution to a modern Western society.

3). Immigrants should be neither barred NOR ACCEPTED solely because they are of some particular ethnic origin. Blacks are vastly more likely to be criminal than are whites or Chinese, for instance, but some whites and some Chinese are criminal. It is the criminality that should matter, not the race.

4). The above ideas are not particularly blue-sky. They roughly describe the policies of the country where I live -- Australia. I am critical of Australian policy only insofar as the "refugee" category for admission is concerned. All governments have tended to admit as refugees many undesirables. It seems to me that more should be required of them before refugees are admitted -- for instance a higher level of education or a business background.

5). Perhaps the most amusing assertion in the immigration debate is that high-income countries like the USA and Britain NEED illegal immigrants to do low-paid menial work. "Who will pick our crops?" (etc.) is the cry. How odd it is then that Australians get all the normal services of a modern economy WITHOUT illegal immigrants! Yes: Before the pandemic, you usually COULD buy a lettuce in Australia for a dollar or thereabouts. And Australia IS a major exporter of primary products.

6). I am a libertarian conservative so I reject the "open door" policy favoured by many libertarians and many Leftists. Both those groups tend to have a love of simplistic generalizations that fail to deal with the complexity of the real world. It seems to me that if a person has the right to say whom he/she will have living with him/her in his/her own house, so a nation has the right to admit to living among them only those individuals whom they choose.

I can be reached on jonjayray@hotmail.com -- or leave a comment on any post. Abusive comments will be deleted.

Immigration Watch International (2)

Tuesday, October 17, 2023

Biden Administration Sends Banks a Message About Lending Money to Illegal Immigrants

No comments:

Post a Comment

Background

Other blogs

Blog Archive

Contributors