This reminder from the Fed was no doubt generated in response to reports and lawsuits that the behavior they were warning against was happening.twocoach wrote: ↑Thu Dec 21, 2023 2:16 pmNothing in that statement from the DoJ/CFPB says anything about "legal vs. illegal immigrants".
This is what you claimed: "So the biden administration threatened banks not to deny illegal immigrants loans based on their illegal status."
This is reality: "However, creditors should be aware that unnecessary or overbroad reliance on immigration status in the credit decisioning process, including when that reliance is based on bias, may run afoul of ECOA’s antidiscrimination provisions and could also violate other laws."
Banks should make their decision to deny a loan primarily due to their immigration status, whether they entered the country legally or illegally. It doesn't tell them not to deny them. It doesn't tell them they can't deny them. It says that a bank is risking being found guilty of civil rights violations if it is found to be basing their decision off of their immigration status. A legal/illegal immigrant can still have their loan application declined if they have the same financial risk of inability to repay the loan as an American citizen with an identical financial profile and the bank is at no risk of legal/civil punishment.
You are 100% WRONG on what was said and who it targeted. It was not specific to illegal immigrants. It was specific to ANY and ALL immigrants. It's no different than reminding banks that they cannot decline loans primarily because of race/sex/gender. A person's immigration status has nothing to do with their ability to repay a loan.
A case from 2017: https://www.venable.com/insights/public ... r-on-basis
Discussion over such discrimination in 2018: https://www.outtengolden.com/insights/m ... on-status/
Another lawsuit filed in 2020: https://immigrationvisaattorney.com/law ... mmigrants/
Another lawsuit: https://immigrationvisaattorney.com/law ... mmigrants/
But yeah, Trump Humpers read one headline and determined this happened out of the blue as an attempt to buy votes. Fucking morons.