The term "Deferred action for childhood arrivals" refers to a United States immigration policy, not a financial concept or category. The Deferred Action for Childhood Arrivals (DACA) program was established in 2012 to provide temporary relief from deportation and work permits to eligible young adults who were brought to the U.S. as children11, 12. While DACA recipients gain the ability to work, open bank accounts, obtain driver's licenses, and in some cases, pursue higher education, it is distinct from financial aid and does not grant lawful immigration status or a path to citizenship8, 9, 10.
As Diversification.com focuses on financial topics, an in-depth article on "Deferred action for childhood arrivals" falls outside the scope of its content, as it is primarily an immigration and social policy.
It is worth noting that the acronym "DACA" is also used in finance to refer to a "Deposit Account Control Agreement." A Deposit Account Control Agreement (DACA) is a legal contract between a borrower, a lender, and a bank, granting the lender control over a borrower's deposit account as collateral for a loan, primarily used in commercial lending and structured finance4, 5, 6, 7. This financial DACA allows lenders to perfect their security interest in deposit accounts, ensuring a claim on funds in case of borrower default1, 2, 3.
However, based on the full term provided, "Deferred action for childhood arrivals" is not a financial term, and therefore, an encyclopedia-style financial article cannot be accurately created for this specific term.