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Bank regulators urge tighter lending to immigrants without work authorization

The guidance targets consumer credit categories including mortgages and auto loans, as regulators seek to curb lending to borrowers lacking U.S. work authorization.

Reported · Written up by our desk · Sectors

CNBC Markets reports that federal bank regulators issued guidance Monday aimed at reducing consumer lending to immigrants who do not have U.S. work authorization.

The regulator guidance urges banks to scrutinize lending practices for this group, including consumer credit products such as mortgages and auto loans.

The effort is designed to limit new lending in these areas for borrowers without the stated work authorization status, according to the report.

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