Two months after the U.S. Consumer Financial Protection Bureau (CFPB) proposed a rule change to narrow anti-discrimination requirements for lenders, it has reversed previous guidance on noncitizen customers looking to borrow.
The CFPB and the U.S. Department of Justice announced the withdrawal of a joint statement released in 2023 that warned financial firms against considering an individual’s immigration status, according to a joint press release published Monday. Both agencies say this action would ”avoid any confusion” about whether lenders can consider a borrower’s immigration status to determine if they are creditworthy.
