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

Beneficial State Bank, connected to billionaire Tom Steyer, is providing loans to illegal immigrants using Individual Taxpayer Identification Numbers (ITINs) instead of Social Security numbers, claiming it's a way to fight "systemic racism". This is part of the bank's mission to promote fairness and address financial inequalities that disproportionately affect communities of color. In 2022, the bank issued $25 million in auto loans to 707 ITIN borrowers, and in 2023, it continued to push this strategy, lending to customers with ITINs, providing critical access to credit and expanding financial inclusion. About 10% of its 16,000 auto loans are made this way. The bank also lends to those with California AB 60 driver's licenses, available to those who "are unable to provide proof of legal residence". Beneficial State Bank did not respond to questions about this, but it's not the only bank making ITIN loans, with Prysma Lending issuing over a billion dollars in these loans and hosting talks to help immigrants avoid deportation. This ITIN loan tactic also supports developments like Colony Ridge in Texas, linked to illegal immigrants, including criminals. Leaked emails from a Texas land developer show there's a whole lending industry illegal immigrants, with one developer admitting they won't be able to sell developments if buyers need Social Security numbers.