Federal banking regulators have closed a long-standing loophole that allow illegal immigrants borrow money from U.S. financial institutions with little scrutiny of their legal status.
The Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and the National Credit Union Administration (NCUA) jointly advised that banks “might consider” requiring customers to produce “evidence of continuing work authorization” and other documentation when assessing whether a borrower can repay a loan. The agencies also directed banks to watch for risky concentrations of lending in “geographic markets, employers or industries” that could be “disproportionately affected” by the Trump administration’s expanded immigration enforcement.
Read Full Article: https://amgreatness.com/2026/07/14/federal-regulators-direct-banks-to-scrutinize-loans-to-illegal-aliens/
