U.S. Representative Andy Ogles (R-TN-05) introduced a bill on Wednesday to enshrine the ability for banks and financial institutions to consider the immigration status of individuals seeking credit or accounts. The legislation follows a joint press release from the Department of Justice (DOJ) and Consumer Financial Protection Bureau (CFPB) which warned financial institutions that considering immigration status could “run afoul” of federal civil rights laws and regulations.
Ogles’ office said in a press release that his bill “would ensure financial institutions are able to consider immigration status when opening credit lines and accounts” in direct response to the CFPB and DOJ press release.
The policy press release was met with skepticism from conservatives, with Americans for Limited Government President Rick Manning writing, “In the Biden fantasy land, it makes sense to flood the country with more than five million illegal aliens many of which operate in a black market economy, but compel financial institutions to risk their financial stability providing credit.”
“Joe Biden’s Administration has no problem throwing red tape over American essentials like water heats, and gas stoves,” Ogles said in a statement, “but when it comes to protecting American credit leaders, he is nowhere to be found.” Ogles charged that “illegal aliens have violated the law, and banks have the right to know to whom they are lending money.”
The congressman also criticized the DOJ and CFPB’s decision to announce the “atrocious regulation in the text of a press statement,” calling it “highly unorthodox and intentionally confusing to banks.” He declared the CFPB “an unconstitutional agency doing unconstitutional things through press releases.”
Ogles’ amendment to the Equal Credit Opportunity Act has 12 co-sponsors, including Representatives Lauren Boebert (R-CO-03), Bob Good (R-VA-05), Tom Tiffany (R-WI-07), Troy Nehls (R-TX-22), and Neal Dunn (R-FL-02).
Boebert said in a statement that the episode represents Biden “and his cronies” advancing “unconstitutional immigration policies” without Congress. Boebert added, “Biden will stop at nothing to make it as easy as possible for illegal immigrants to come here and stay here.”
The Colorado representative said she is “proud to cosponsor” the bill and thanked Ogles “for standing up for businesses to make these decisions for themselves.”
Nehls went further, arguing in a statement that the policy “is not only bad business but a threat to our national security.”
Good stressed the DOJ and CFPB policy press release came after the Biden administration “intentionally surrendered operational control over our southern border to the Mexican crime cartels.”
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Tom Pappert is the lead reporter for The Tennessee Star, and also reports for The Georgia Star News, The Virginia Star, and the Arizona Sun Times. Follow Tom on X/Twitter. Email tips to [email protected].
Photo “Andy Ogles” by Andy Ogles.
@David Blackwell
Hopefully President Trump will lean on Ron Paul for economic advice during the 25-29 Trump administration.
Everything Ron Paul told the Americans was 100% true. Conservative Inc. is late to game. The Republic is doomed. TN needed a State Bank, yesterday.