Law360 (July 26, 2018, 2:07 PM EDT) -- A California lending center and a group of Chinese investors challenged the government's policy of counting investors' spouses and children against the EB-5 visa cap in a D.C. federal court Wednesday, arguing that the policy creates lengthy visa backlogs and hurts the economy of the United States.
The American Lending Center, an EB-5 regional center, and 13 investors claimed in the proposed class action that the U.S. Department of State exceeded its authority by counting "derivatives" of EB-5 investors toward the approximate 10,000 annual visa cap, resulting in a 16-year wait period for investors from China, a country with a high...
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