Financial System as a Tool for Policy: New CFPB Advisory Sparks Debate Over Immigration Status in Lending
WASHINGTON — In a move that has sent shockwaves through the financial services industry and civil rights advocacy groups, the Consumer Financial Protection Bureau (CFPB), under the leadership of Russell Vought, issued a formal statement on June 5, 2026, advising lenders to incorporate a borrower’s immigration status into their assessments of creditworthiness and ability to…
