Source: Fox News
Summary
White House deputy chief of staff Stephen Miller stated that the Trump administration is seeking to prevent illegal immigrants from accessing banking services as an incentive for them to self-deport. Miller mentioned that President Trump signed an executive order directing banks and federal regulators to scrutinize accounts and credit applications involving immigrants without legal status or work authorization. The order aims to make it more difficult for illegal immigrants to participate in the financial system. Federal agencies have already begun acting on the order, issuing guidance to lenders to consider applicants’ immigration status and work authorization when assessing their ability to repay loans.
Our Reading
As expected, the matter has reached another stage.
Stephen Miller’s announcement is part of a familiar pattern of using financial measures to deter illegal immigration. The Trump administration has been exploring ways to limit access to banking services for illegal immigrants. The executive order and subsequent guidance from federal agencies serve as a reminder that financial institutions must consider the immigration status of applicants. The move is likely to affect the daily lives of many illegal immigrants. The administration’s strategy relies on the assumption that limited access to financial services will encourage self-deportation.
Author: Evan Null
