Staff Reports
In a shocking move, the Biden administration has issued an order requiring all US banks and financial institutions to accept credit card and loan applications from illegal immigrants, solely based on their immigration status. The Department of Justice (DOJ) and the Consumer Financial Protection Bureau (CFPB) have declared that denying credit cards to noncitizens is a violation of the law. The agencies are concerned that illegal immigrants are being rejected for loans and credit cards due to their immigration status, even when they have solid credit histories and strong ties to the United States. They argue that this is unlawful discrimination and a violation of the Equal Credit Opportunity Act (ECOA), which protects against discrimination based on race, religion, sexual orientation, and national origin.
As a conservative, this is yet another example of the Biden administration prioritizing the interests of illegal immigrants over the needs of American citizens. By forcing banks and financial institutions to accept credit card and loan applications from illegal immigrants, the administration is essentially rewarding those who have broken our immigration laws. It sends a dangerous message that our laws can be disregarded without consequence.
DOJ and CFPB tell banks it might be illegal to refuse to loan money to people whose broke federal law to reach the bank.
You gotta be kidding me. The invasion of illegal immigrants is intentional and must be stopped. pic.twitter.com/hUmwOR6eJX
— Bud Cummins (@BudCumminsAR) October 14, 2023
Furthermore, the DOJ and CFPB claim that ECOA protections extend to alienage, meaning that banks with policies denying loans to illegal immigrants may be in violation of the law. This interpretation of the law is deeply problematic and undermines the rule of law in our country. Banks should have the right to consider an applicant’s immigration status when assessing their ability to repay a loan. Giving credit to individuals who are in the country illegally is not only unfair to American citizens, but it also creates a significant risk for financial institutions.
It remains to be seen how banks and financial institutions will respond to this order, but it is clear that the Biden administration is pushing an agenda that prioritizes the interests of illegal immigrants over the needs and concerns of American citizens. As a conservative, it is deeply troubling to see our immigration laws being undermined in this way. We must hold our elected officials accountable and demand that they put the interests and safety of American citizens first.
