US Lenders Gain Flexibility in Considering Immigrant Status for Credit Decisions
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US Lenders Gain Flexibility in Considering Immigrant Status for Credit Decisions

The U.S. has withdrawn a policy statement that cautioned lenders against potential discrimination based on immigrant status in credit decisions. Issued in October 2023 and withdrawn January 12, the guidance suggested that relying heavily on immigration status could violate the Equal Credit Opportunity Act. The Department of Justice stated the withdrawal aims to clarify the law, allowing lenders more flexibility while emphasizing that existing anti-discrimination protections remain in place.

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