{"id":438,"date":"2026-08-03T16:32:42","date_gmt":"2026-08-03T16:32:42","guid":{"rendered":"https:\/\/thirstier.news\/?p=438"},"modified":"2026-08-03T16:32:42","modified_gmt":"2026-08-03T16:32:42","slug":"consumer-financial-protection-bureau-and-the-department-of-justice-withdraw-joint-statement-on-fair-lending-and-credit-opportunities-for-noncitizen-borrowers","status":"publish","type":"post","link":"https:\/\/thirstier.news\/?p=438","title":{"rendered":"Consumer Financial Protection Bureau and the Department of Justice Withdraw Joint Statement on Fair Lending and Credit Opportunities for Noncitizen Borrowers"},"content":{"rendered":"
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Washington, D.C.<\/b> \u2013 The Consumer Financial Protection Bureau and the Department of Justice (together, the \u201cagencies\u201d) announced today that they have withdrawn a joint statement regarding the implications of a creditor\u2019s consideration of an individual\u2019s immigration status under the Equal Credit Opportunity Act (ECOA).<\/p>\n

On October 12, 2023, the agencies published a joint statement cautioning that creditor policies related to an applicant\u2019s immigration or citizenship status could, in certain circumstances, run afoul of ECOA\u2019s and Regulation B\u2019s prohibition of discrimination on the basis of protected classes, including race and national origin. The agencies withdrew the joint statement to avoid any conflict with the express language of ECOA and its implementing regulation, Regulation B.<\/p>\n

\u201cFor decades, ECOA regulations have permitted lenders to consider a borrower\u2019s lawful residence status and other information necessary to protect their rights and remedies with respect to repayment,\u201d said Acting Director Russell Vought at the Consumer Financial Protection Bureau. \u201cWe are correcting the last administration\u2019s attempt to ignore these well-accepted and common-sense principles of our nation\u2019s fair lending laws.\u201d<\/p>\n

\u201cThe federal government is committed to avoiding statements that could confuse the law or imply compliance standards for civil rights laws that lack any statutory or regulatory basis,\u201d said Assistant Attorney General Harmeet K. Dhillon at the Justice Department\u2019s Civil Rights Division. \u201cThis administration is restoring alignment with established federal civil rights law rather than continuing the prior administration\u2019s ideologically-driven departures.\u201d<\/p>\n

ECOA and Regulation B respectively permit creditors to consider pertinent elements of credit-worthiness and information necessary to protect creditor rights and remedies, including a borrower\u2019s immigration or citizenship status. The agencies also believe withdrawal is appropriate to avoid any confusion that lenders may legitimately consider immigration status under several circumstances, including when necessary to avoid financial risks and to comply with other laws. In addition, withdrawal is appropriate to address any misimpression that the joint statement interprets 42 U.S.C. \u00a7 1981 to confer any liability under the statute that has not already been recognized by courts. Finally, the agencies believe withdrawal is appropriate to avoid any unnecessary burdens from new or increased compliance efforts.<\/p>\n

Read the Withdrawal of Joint Statement on the Equal Credit Opportunity Act and Noncitizen Borrowers<\/span> <\/a><\/p>\n

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Contact<\/h5>\n

Office of Communications<\/p>\n

Rachel.Cauley@cfpb.gov<\/a><\/p>\n

Alexandra.McCandless@cfpb.gov<\/a><\/p>\n<\/p><\/div>\n

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The Consumer Financial Protection Bureau is a 21st century agency that implements and enforces Federal consumer financial law and ensures that markets for consumer financial products are fair, transparent, and competitive. For more information, visit<\/i> www.consumerfinance.gov<\/i><\/a>.<\/i><\/p>\n<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/article>\n

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08:12 AM EST<\/p>\n

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Source: Newsroom | Consumer Financial Protection Bureau<\/a><\/p>\n

Source: Newsroom | Consumer Financial Protection Bureau<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"

CFPB and Justice have withdrawn a joint statement linked to a creditor\u2019s consideration of an individual\u2019s immigration status under the Equal Credit Opportunity Act.<\/p>\n","protected":false},"author":1,"featured_media":258,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[45],"tags":[],"class_list":["post-438","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-civil-service-independent-agencies-consumer-financial-protection-bureau"],"_links":{"self":[{"href":"https:\/\/thirstier.news\/index.php?rest_route=\/wp\/v2\/posts\/438","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thirstier.news\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thirstier.news\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thirstier.news\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thirstier.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=438"}],"version-history":[{"count":1,"href":"https:\/\/thirstier.news\/index.php?rest_route=\/wp\/v2\/posts\/438\/revisions"}],"predecessor-version":[{"id":645,"href":"https:\/\/thirstier.news\/index.php?rest_route=\/wp\/v2\/posts\/438\/revisions\/645"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thirstier.news\/index.php?rest_route=\/wp\/v2\/media\/258"}],"wp:attachment":[{"href":"https:\/\/thirstier.news\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=438"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thirstier.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=438"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thirstier.news\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=438"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}