Is Considering Immigration Status A Risky Business For Lenders? It Is Now.

Last week, the Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) issued a joint statement to clarify how lenders can consider immigration status when deciding whether to approve someone for a loan.

This is a hotly contested issue, especially in the wake of recent lawsuits alleging that lenders have denied loans or offered less favorable terms to DACA recipients.