Rep. Ogles Counters CFPB Illegal Alien Credit Plan

FOR IMMEDIATE RELEASE: Wednesday, December 20th, 2023

CONTACT: Emma Settle (202) 225-4311

Rep. Ogles Counters CFPB Illegal Alien Credit Plan 

WASHINGTON, DC - Congressman Andy Ogles (TN-05) introduced legislation that would ensure financial institutions are able to consider immigration status when opening credit lines and accounts. This bill is in response to a joint statementfrom the Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) warning banks and other financial institutions that evaluating one's immigration status could “run afoul” of the law when determining an individual’s eligibility for an extension of credit.

"Joe Biden's Administration has no problem throwing red tape over American essentials like water heaters, and gas stoves, but when it comes to protecting American credit lenders, he is nowhere to be found. Make no mistake: illegal aliens have violated the law, and banks have the right to know to whom they are lending money. Democrats want to force banks to bow to big government, but I won’t let them," said Congressman Ogles. "To make matters worse, the CFPB and DOJ placed this atrocious regulation in the text of a press statement which is highly unorthodox and intentionally confusing to banks. At this point, calling any action by the CFPB legitimate would be crazy. It’s an unconstitutional agency doing unconstitutional things through press releases, and I am proud to fight against it."

Congresswoman Boebert said: “Yet again, Joe Biden and his cronies are circumventing Congress to implement their unconstitutional immigration policies. Biden will stop at nothing to make it as easy as possible for illegal migrants to come here and stay here, now telling banks they cannot take a person’s immigration status into account when extending them credit. I am proud to cosponsor Congressman Ogles’ bill to put a stop to this tyrannical overreach. Banks absolutely have the right to refuse service to an illegal alien if they deem that would harm their financial interests. I want to thank Congressman Ogles for standing up for businesses to make these decisions for themselves.”

Congressman Nehls stated: “Prohibiting banks from considering if someone is an illegal alien is not only bad business but is a threat to our national security. Due to Joe Biden’s failure to secure our border, millions of people from all over the world have infiltrated into our country, with no idea of how many terrorists are walking in broad daylight. Banks should have every right to determine if someone is an American citizen before lending them money. It’s just pure fact.”

Congressman Good said: “President Biden and Secretary Mayorkas have intentionally surrendered operational control of our southern border to the  Mexican crime cartels. I am pleased to join Rep. Andy Ogles’ efforts to stop the flood of illegal entries and end the Biden border invasion.”

Congressman Tiffany stated: “Instead of securing the border, the Biden administration is focused on encouraging more illegal immigration by telling banks not to reject illegal alien loan applications. This is the next step in completing their deliberate invasion of our nation, and this ill-advised financial directive must be revoked.” 

Congressman Neal Dunn said: “Barring banks from considering an individual’s immigration status will put many banks, especially small local banks at risk of closure. They cannot afford to compromise financial stability. The banking industry shouldn’t have to pay the price for the Biden Administration’s failed border policies.”

Cosponsors (12): Reps. Tiffany [WI-07], Andrew Clyde [GA-09], Dr. Neal Dunn [FL-02], Bob Good [VA-05], Ralph Norman [SC-05], Keith Self [TX-03], Roger Williams [TX-25], Lauren Boebert [CO-03], Rich McCormick [GA-06], Randy Weber [TX-14], Alex Mooney [WV-02], and Troy Nehls [TX-22].

Bill Text 

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This is a companion discussion topic for the original entry at https://ogles.house.gov/media/press-releases/rep-ogles-counters-cfpb-illegal-alien-credit-plan