More Insanity: Biden Orders Banks Not To Reject Illegal Immigrants' Loan Applications

[MAGA Macho Man]

This is down right ridiculous.

The Department of Justice (DOJ) and the Consumer Financial Protection Bureau (CFPB) said in a recent statement that rejecting illegal immigrants for credit cards and various types of loans just because they are noncitizens is unlawful. …

That is a complete lie, and an unlawful (to use their term) abuse of power.

Biden Admin Orders Banks Not to Reject Illegal Immigrants’ Loan Applications

Two federal agencies have warned financial institutions not to reject illegal immigrants’ credit applications based solely or mostly on citizenship status.

www.theepochtimes.com

 

[TroglocratsRdumb]

clearly illegal aliens are more important to the racist and corrupt Democrat Party than American citizens

 

[Manonthestreet]

I'm sure they're good for it right....
Much easier and respectableway of theft

 

[wamose]

Our founding fathers think Joe Biden is a dangerous, anti-American idiot.

 

[kyzr]

So if the banks reject their applications because they have no income, that's legal?

 

[Flash]

Use government pressure to make the banks give loans to sorry ass shitheads that have no intentions of paying the money back, what could possibly go wrong?

 

[kyzr]

Use government pressure to make the banks give loans to sorry ass shitheads that have no intentions of paying the money back, what could possibly go wrong?

This happened before when the democrats passed the Community Reinvestment Act and Bill Clinton signed it.

People with no income bought houses, they defaulted on their loans, the banks got crushed, we got the Great Recession.

Clinton Housing Policy Wrecked Economy, Not 1%

Election '16: With typical gall, Hillary Clinton in her campaign launch lit into "those at the top" for "stacking" the deck against middle-class families when in fact they are buried... Read More

www.investors.com

 

[Flash]

This happened before when the democrats passed the Community Reinvestment Act and Bill Clinton signed it.

People with no income bought houses, they defaulted on their loans, the banks got crushed, we got the Great Recession.

Clinton Housing Policy Wrecked Economy, Not 1%

Election '16: With typical gall, Hillary Clinton in her campaign launch lit into "those at the top" for "stacking" the deck against middle-class families when in fact they are buried... Read More

www.investors.com

Absolutely! That Democrat stupidity almost destroyed the American economy.

 

[Moonglow]

Epoc Times=

 

[Smokin' OP]

This happened before when the democrats passed the Community Reinvestment Act and Bill Clinton signed it.

People with no income bought houses, they defaulted on their loans, the banks got crushed, we got the Great Recession.

Clinton Housing Policy Wrecked Economy, Not 1%

Election '16: With typical gall, Hillary Clinton in her campaign launch lit into "those at the top" for "stacking" the deck against middle-class families when in fact they are buried... Read More

www.investors.com

You're FOS.
It took 15 years to effect anything?

Try a little closer.

President Bush Signs American Dream Downpayment Act ...​

George W. Bush White House Archives (.gov)
https://georgewbush-whitehouse.archives.gov › 2003/12
Dec 16, 2003 — President Bush on Tuesday signed into law the American Dream Downpayment Act of 2003, which will help approximately 40000 families a year ...

 

[Dr.Know]

The Village Idiot in the whitehouse already gives illegals Small Business Loans.

 

[kyzr]

You're FOS.
It took 15 years to effect anything?
Try a little closer.

President Bush Signs American Dream Downpayment Act ...​

View attachment 844225
George W. Bush White House Archives (.gov)
https://georgewbush-whitehouse.archives.gov › 2003/12
Dec 16, 2003 — President Bush on Tuesday signed into law the American Dream Downpayment Act of 2003, which will help approximately 40000 families a year ...

Dubya's speech has nothing to do with the unqualified getting mortgages under the CRA.
I agree it threw gas on the fire, but the CRA was the major cause of the Great Recession.

Point being that banks have risk managers for a reason, and the fucking government needs to butt the fuck out.

 

[Harpy Eagle]

So if the banks reject their applications because they have no income, that's legal?

Yep, or no credit history or a dozen other reasons.

 

[Flash]

You're FOS.
It took 15 years to effect anything?

Try a little closer.

President Bush Signs American Dream Downpayment Act ...​

View attachment 844225
George W. Bush White House Archives (.gov)
https://georgewbush-whitehouse.archives.gov › 2003/12
Dec 16, 2003 — President Bush on Tuesday signed into law the American Dream Downpayment Act of 2003, which will help approximately 40000 families a year ...

LOL! I love it when you Moon Bats point to RINO stupidity like it is some kind of a gotcha.

Liberals policies are destructive no matter if stupid Democrats or stupid Republicans support them.

 

[Smokin' OP]

Dubya's speech has nothing to do with the unqualified getting mortgages under the CRA.

You're FOS, as usual.
Bush gave people the $$$, so they COULD qualify for a mortgage.
The CRA had NOTHING to do with it.
It was HUD.
READ the speech.

I agree it threw gas on the fire, but the CRA was the major cause of the Great Recession.

NO, it wasn't.
CRA had NOTHING to do with withe recession.
The CRA was about relining, banks NOT loaning in minority areas.
80% of the mortgages were private mortgages, made by private lenders.
THEY gave out subprime mortgages, knowing they could sell that mortgage to Wall Street.
Like Countrywide.

Point being that banks have risk managers for a reason,

Risk "managers"?
The only risks lenders, not most banks, took was Wall Street wouldn't buy their subprime mortgages.

and the fucking government needs to butt the fuck out.

That was the entire problem.

 

[Smokin' OP]

LOL! I love it when you Moon Bats point to RINO stupidity like it is some kind of a gotcha.

Liberals policies are destructive no matter if stupid Democrats or stupid Republicans support them.

I love when teabaggers, like their dear leader, try blame everyone else for what, THEY did.

 

[LordBrownTrout]

You're FOS, as usual.
Bush gave people the $$$, so they COULD qualify for a mortgage.
The CRA had NOTHING to do with it.
It was HUD.
READ the speech.


NO, it wasn't.
CRA had NOTHING to do with withe recession.
The CRA was about relining, banks NOT loaning in minority areas.
80% of the mortgages were private mortgages, made by private lenders.
THEY gave out subprime mortgages, knowing they could sell that mortgage to Wall Street.
Like Countrywide.



Risk "managers"?
The only risks lenders, not most banks, took was Wall Street wouldn't buy their subprime mortgages.

That was the entire problem.

Wrong. Just more of your regular partisan liberal rag rant. Here's the truth:

25 People to Blame for the Financial Crisis - TIME

President Clinton's tenure was characterized by economic prosperity and financial deregulation, which in many ways set the stage for the excesses of recent years. Among his biggest strokes of...

content.time.com

"President Clinton's tenure was characterized by economic prosperity and financial deregulation, which in many ways set the stage for the excesses of recent years. Among his biggest strokes of free-wheeling capitalism was the Gramm-Leach-Bliley Act, which repealed the Glass-Steagall Act, a cornerstone of Depression-era regulation. He also signed the Commodity Futures Modernization Act, which exempted credit-default swaps from regulation. In 1995 Clinton loosened housing rules by rewriting the Community Reinvestment Act, which put added pressure on banks to lend in low-income neighborhoods."

 

[bodecea]

This is down right ridiculous.


That is a complete lie, and an unlawful (to use their term) abuse of power.

Biden Admin Orders Banks Not to Reject Illegal Immigrants’ Loan Applications

Two federal agencies have warned financial institutions not to reject illegal immigrants’ credit applications based solely or mostly on citizenship status.

www.theepochtimes.com

The Epoch Times......

Cult members using Cult news source......

 

[Smokin' OP]

Wrong. Just more of your regular partisan liberal rag rant. Here's the truth:

25 People to Blame for the Financial Crisis - TIME

President Clinton's tenure was characterized by economic prosperity and financial deregulation, which in many ways set the stage for the excesses of recent years. Among his biggest strokes of...

content.time.com

"President Clinton's tenure was characterized by economic prosperity and financial deregulation, which in many ways set the stage for the excesses of recent years. Among his biggest strokes of free-wheeling capitalism was the Gramm-Leach-Bliley Act, which repealed the Glass-Steagall Act, a cornerstone of Depression-era regulation. He also signed the Commodity Futures Modernization Act, which exempted credit-default swaps from regulation. In 1995 Clinton loosened housing rules by rewriting the Community Reinvestment Act, which put added pressure on banks to lend in low-income neighborhoods."

WRONG.
Like I stated before, it took 15 to 20 years to have an effect?
Clinton loosened rules for lending for BANKS, FDIC insured BANKS.
Not that they HAD to loan to low income people or people that didn't meet their lowest mortgage requirements.
They weren't forced to loan to anyone.

 

[Resnic]

What I don't understand to begin with is how in the hell can a illegal can even get a loan from a bank?