News

Business

On HALO

5 days ago

Trump admin to tell banks immigration status may be considered in mortgage, credit decisions

The Trump administration is planning to release a policy statement that will tell banks they may consider a client's immigration status as part of their ability to repay when offering mortgages and credit cards, FOX Business has learned.The Consumer Financial Protection Bureau (CFPB) is planning to issue a policy statement on Friday in the Federal Register that serves as a guidance for financial institutions in considering a consumer's ability to legally work and earn income in the U.S. when making lending decisions, particularly when considering mortgage and credit card applications.The polic...