Thread Starter: David Dickinson
Title: Re: Loan Denial Reason
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quote]Ya'll seem to be saying there's no litigation risk (at least, no risk of actually losing the lawsuit) for having a policy of "we don't lend to people who work at strip joints in any capacity". Just not sure i agree with that.[/quote]
How is not making you a loan a legal risk? You're going to sue me because I must make you a loan? Again, I can decide your LTV or DTI it too high. Is that unfair? You probably think so or you wouldn't have applied. Can you sue me for that. Sure. Would you win? Probably not.
The entire point of my getting involved in this discussion is many of you are making up rules that don't exist. If you're a naysayer, you're not working for the betterment of your bank. We can disagree on what's "ethical", but there should be no argument that this is not illegal or a UDAAP issue.
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