Biden Regime Threatens Banks That Refuse to Give Credit Lines, Loans to Illegal Aliens

The Biden Regime is threatening banks that refuse to give illegal aliens credit lines and loans.

The Consumer Financial Protection Bureau (CFPB) and the DOJ warned banks and lending institutions in a joint statement this week.

“The Consumer Financial Protection Bureau (CFPB) and Justice Department today issued a joint statement that reminds financial institutions that all credit applicants 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 CFPB said in a statement.

“The CFPB and Justice Department are issuing this statement 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.” they said.

“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.”

The DOJ’s Civil Rights Division Assistant Attorney General Kristen Clarke warned banks that they may be violating federal law if they don’t give illegal aliens loans.

“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 Kristen Clarke. “This guidance reminds lenders that denying someone access to credit based solely on their actual or perceived immigrant status may violate federal law.”

The CFPB and @TheJusticeDept today issued a joint statement that reminds financial institutions that all credit applicants are protected from illegal discrimination, regardless of their immigration status. https://t.co/L7cVVazP1m

— consumerfinance.gov (@CFPB) October 12, 2023

More than 7.5 million illegal aliens have poured over the border since Joe Biden was installed in January 2021.

The illegals are given cash, and housing and now the banks are being forced to give them credit lines and loans.