When Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra appears before the U.S. House Financial Services Committee this Thursday, will he be asked about U.S. financial institutions being encouraged to give mortgages to illegal aliens?
After Chopa and U.S. Attorney General Merrick Garland issued a letter last year urging financial institutions to lend to illegals, it appears at least one credit union is doing just that.
North Carolina’s Latino Community Credit Union (LCCU) is one such lender targeting illegal aliens,” reported Restoration News. “The former CEO of LCCU believes that ‘People have the right to fulfill their dreams.’ According to MSNBC, the LCCU provides “mortgages to immigrants irrespective of their immigration status.
Of course, LCCU may simply be following the guidance of Chopra and Garland. The pair of Biden Administration bureaucrats issued a joint letter on October 12, 2023 that, according to U.S. Sen. J.D. Vance (R-Ohio), “dramatically upends decades of guidance from the CFPB and the Federal Reserve” by forcing “American financial institutions to extend loans to illegal immigrants.”
In fact, Vance and every Republican member of the U.S. Senate Banking Committee sent a letter to Chopra and Garland asking them to rescind that letter.
Financial institutions are right to be concerned that they may never see a return on loans issued to illegal immigrants,” said Vance. “If someone is deported to their home country, how is a bank in Ohio supposed recoup the loan it was forced to issue? The federal government should be cracking down on illegal immigration – not encouraging more of it.
And yet, it appears that mortgages are still being provided to illegals.
Restoration News’ Victoria Manning reports:
“Restoration News spoke directly with a LCCU representative about what would be needed for an ‘undocumented immigrant’ to obtain a mortgage. We were provided with this link and were informed the client would “need to have at least a tax ID” and they even offered to process the tax ID on behalf of the client. The LCCU representative further advised that an undocumented immigrant should apply for a credit card once getting the tax ID number to start building credit.”
Chopra is scheduled to provide a semi-annual report to the U.S. House Financial Services Committee this Thursday.
Will any Republicans on the committee back up Sen. Vance and their fellow Republicans on the Senate Banking Committee by asking Chopra about the CFPB’s promotion of mortgages-for-illegals?
American Greatness contributor Steve Cortes, the son of an immigrant and head of the League of American Workers, hope so.
“Does CFPB Director Chopra work for American citizens or for illegal aliens?” told Durham Reporter. “He must be asked about taxpayer support for mortgages for non-Americans.”