President Joe Biden’s agencies are reportedly pressuring banks to grant cheap loans to illegal migrants and threatening them with federal investigations if they refuse.
Pro-migration lobbies are pushing for this in an attempt to integrate illegal migrants into American society, despite the potential economic and social damage it may cause.
The threats were issued by various government agencies on October 12, with officials claiming that denying credit based on immigration status may violate federal law.
Chicago here they come pic.twitter.com/6X8cAh5It5
— Todd Bensman (@BensmanTodd) October 12, 2023
“This guidance reminds lenders that denying someone access to credit based solely on their actual or perceived immigrant status may [emphasis added] violate federal law,” said a statement by Kristen Clarke, Biden’s chief of the Justice Department’s civic regulation division.
“The Equal Credit Opportunity Act (ECOA) … [and] regulations found at 12 C.F.R. part 1002, commonly known as “Regulation B” … do not expressly prohibit consideration of immigration status,” the statement admits.
However, there is no evidence of banks justifying discrimination based on immigration status.
The government admits that banks can deny loans to illegal migrants, but the agencies are using the threat of investigations to pressure banks into compliance.
This vulnerability to political pressure has previously led to disastrous economic consequences, such as the 2008 economic crash caused by high-risk home loans.
The Biden administration is also emphasizing the hiring of individuals with pro-migrant advocacy backgrounds in government agencies, suggesting a bias in favor of illegal migrants.
Overall, the policy of importing illegal migrants is said to benefit wealthy investors while harming ordinary Americans.
Most Popular:
FBI Does the Unthinkable to Trump Supporters
Trump Gets Another Big Win in Court
Bombshell Discovery in Joe Biden’s Email
