Wells Fargo Lawsuit about DACA being denied loans will proceed - Page 2

I don't know, this might be a legitimate tactic. If us 800k DACAs take out tons of loans, and then they kill DACA, it creates an incentive for the banks to help us out in order to not lose that money. Downside is we'd be fucked with the debt.

this is discrimination

How is discrimination? Why would a bank give you money if your DACA is not certain. One of the reasons why the house market crash is because banks were giving out loans to illegals like hot cakes. They tricked illegals into signing stuff they couldn't afford.

Tell me again how it is discrimination?

My parents own a small business and give credit to people on car sales. The excuses people come up with when they couldn't make payment were interesting.... I had to pay my bills or I had to make my house payment. As if we had a bottomless wallet filled with money and didn't have to pay our own bills. Businesses take risks in granting lines of credit and legal status is a fair variable to take into consideration alongside other factors. There's a fine line there between fair assessment and straight discrimination since someone who has DACA or a straight up "illegal" status can be denied credit solely based off of that without consideration of things like prior credit, home and car ownership, and asset/savings assessment, which should be considered in conjunction with legal status.

I agree, although, borrowing money is seldom a good idea. Unless the purpose is to start a business that has high chances of success.

So you would buy a vehicle or home outright? Trying doing that in SoCal... What about expensive appliances?
Lines of credit can be very useful when utilized and paid off with tact.

I am not saying ever, but people in our situation making those kinds of purchases is a bit irresponsible.

You can buy a used car that runs well for under 10K. There is no appliance someone should get a loan for. Usually you can do that with store credit cards anyways. Many dealerships will give you loans, even without a SSN, they will give you a high interest but that is what the risk is.

I personally feel this lawsuit makes us look like we are demanding something that is unreasonable. Not that I am against it but the right takes any little things and they twist it.

Not sure how this would make a case unless the us citizen cosigner and/or daca loan requester both are in good financial standings and denied solely upon the status of having daca

If you read the article the DACA individual did have a US Citizen Cosigner.

If you read the article they are suing because they denied DACA people. It doesn't explicitly say they are suing because they denied a DACAer with USC Co signer.