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News and Announcements

News and Announcements

Judge Refuses To Dismiss Lawsuit Accusing SoFi Of Denying Loans To Immigrants

Apr 14, 2021 / News Item
A federal judge Monday refused to dismiss a civil rights class action against Social Finance Inc., or SoFi, a San Francisco-based online lending platform, that allegedly denied loans to immigrants who were legally residing in the United States when they applied for credit. * * * The SoFi online platform offers members discounted loans, financial advice, as well as the ability to invest in stocks (including IPOs) and cryptocurrencies. Member benefits described on its website include “money hacks” and “swag giveaways” as well as career advice and member events. * * * The lawsuit was filed in...
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"Dreamers" Fight Against Discrimination Continues Following Supreme Court DACA Ruling

Jun 20, 2020 / News Item
In a significant victory for immigrants' rights, the U.S Supreme Court blocked the Trump Administration's attempt to rescind the Deferred Action for Childhood Arrivals (DACA) program. The Court's surprising 5-4 decision found the administration failed to provide legally sufficient reasons for ending the program under the Administrative Procedure Act. While the Court's decision in Department of Homeland Security v. Regents of University of California ( Regents ) acknowledges the Administration can end DACA if it provides a sufficient reason, many legal and political experts agree that it will...
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DACA Recipient Files Discrimination Class Action Against Major Online Lender

May 19, 2020 / Press Release
Today, DACA recipient Ruben Juarez filed a nationwide class action lawsuit against SoFi, a major online personal finance company, on behalf of himself and other DACA recipients who were denied access to a variety of consumer credit, including student loans, personal loans, and home mortgages. The lawsuit, filed in federal court in San Francisco by Outten & Golden LLP and Lawyers for Civil Rights (LCR), alleges that SoFi systematically denies and limits DACA recipients’ access to lending and refinancing opportunities and that such restrictions are unlawful under federal and California...
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Please contact us if you are a DACA recipient and SoFi denied you student loans, refinancing options, or access to other credit services, because of your immigration status.