Source: Politico
“Federal regulators on Monday directed banks and credit unions to more closely scrutinize the loans they make to immigrants who are in the country illegally [sic], as part of the Trump administration’s broader immigration crackdown. In new guidance, regulators said that undocumented immigrants may present an ‘elevated credit risk’ and warned banks to account for the risk that they may lose their job or be deported as they underwrite new loans. Financial institutions, the guidance says, should take into account that a customer’s status as an unauthorized immigrant may pose a risk to their ability to repay credit cards, mortgages, auto loans or other loans.” (07/13/26)