USCIS Pushes For Win In Class Action Over EB-5 Rule
Law360, New York (May 2, 2016, 9:04 PM EDT) -- U.S. Citizenship and Immigration Services asked a D.C. federal court on Friday to hand it a victory in a class action over a rule requiring applicants seeking an EB-5 visa to secure loans with assets they own, saying the agency's interpretation of a regulation about capital is entitled to deference.
USCIS filed for cross summary judgment in suit challenging a collateralization rule reportedly announced by the agency during a stakeholder call last April. Under the rule, foreign individuals who borrow cash to invest in a U.S. businesses won't be granted EB-5 visas unless their loan is secured by assets they own,...
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