Alliant Calls 'Dreamers' A Loan Risk In Bid To Nix Bias Suit 1 Alliant Calls 'Dreamers' A Loan Risk In Bid To Nix Bias Suit

Alliant Calls 'Dreamers' A Loan Risk In Bid To Nix Bias Suit

By Alyssa Aquino (August 25, 2022, 7:16 PM EDT) — Alliant Credit Union has pressed a California federal court to toss a lawsuit seeking to open up car loans to undocumented immigrants with Obama-era deportation protections, arguing that the uncertain residency status of “Dreamers” presents too high a risk for the five-year loans.

The nonprofit financial institution said Tuesday that it allows people temporarily shielded from deportation through the Deferred Action for Childhood Arrivals program to open checking accounts and receive home loans, but that “as a matter of sound underwriting,” it couldn’t justify the risk of providing them with car loans. It’s too risky to provide a five-year loan to…