NEC Dir. Hassett on Loan Regulations: If a Bank Makes Loans to People That Might Be Deported, Then That Person’s Probably Not Going to Pay Back

EXCERPT:

HASSETT: “The bottom line is that if a bank is making lots of loans to people that might be deported because they have a criminal record or whatever, then obviously that person's probably not going to pay back the loan. And so we view this as a financial stability measure that makes a great deal of sense, and it's -- I guess the interesting thing is that the regulators felt they had to issue that guidance presumably because of something they discovered that was surprising.”