Agencies to retract statement on using immigration status to determine creditworthiness

The Consumer Financial Protection Bureau and the Department of Justice announced plans to retract a 2023 joint statement that warned financial institutions they could violate federal anti-discrimination laws by using immigration status to assess a consumer’s creditworthiness.

The original guidance, published on October 18, 2023, stated that consumers had reported being denied credit cards, as well as auto, student, personal, and equipment loans, solely on the basis of their immigration status—even when they had strong credit histories.