Sunday, June 8, 2025

Catering to the illegal aliens

Bank Connected To Left Wing Billionaire Giving Loans To Illegal Immigrants To Fight "Systemic Racism"

BY TYLER DURDEN
SUNDAY, JUN 08, 2025 - 05:45 AM

A bank connected to leftwing billionaire Tom Steyer is giving loans to illegal immigrants using a financial loophole—claiming it’s a way to fight “systemic racism", according to the Daily Wire.

Beneficial State Bank, based in Oakland, California, offers loans to immigrants without legal status by using Individual Taxpayer Identification Numbers (ITINs) instead of Social Security numbers.

The bank says this is part of its mission to promote fairness. “Beneficial State Bank is committed to addressing financial inequalities that disproportionately affect communities of color, a result of centuries of systemic racism,” the bank said in its 2022 impact report.

“A key initiative is lending to immigrant customers who may not have Social Security numbers but possess Individual Taxpayer Identification Numbers.” In 2022, it issued $25 million in auto loans to 707 ITIN borrowers

The Daily Wire writes that in 2023, the bank continued to push this strategy. “Because many financial institutions require social security numbers, people without them, such as recent immigrants to the United States, can face barriers to qualifying for the loan they need to purchase a car,” the report reads.

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