Original Source Material
CFPB and Justice have withdrawn a joint statement linked to a creditor’s consideration of an individual’s immigration status under the Equal Credit Opportunity Act.
Consumer Financial Protection Bureau and the Department of Justice Withdraw Joint Statement on Fair Lending and Credit Opportunities for Noncitizen Borrowers
Summary
• The Consumer Financial Protection Bureau and the Department of Justice have withdrawn a joint statement regarding fair lending and credit opportunities for noncitizen borrowers.
• This withdrawal impacts how creditors can consider an individual's immigration status under the Equal Credit Opportunity Act.
Why It Matters for Texas Credit Unions
Relevant as it affects compliance with federal laws that apply to Texas credit unions.