Thread Starter: Anonymous
Title: Re: Caps on Loan Amounts (Auto Loans)
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Can/do banks have underwriting policies/procedures that limit the amount of money the bank would loan an applicant with no credit file or limited credit (say less than five trades on their bureau)? Say in a situation of joint applicants, one has good credit, the other no credit, can we have a policy that would cap loans at $20,000 (if there is an applicant on the loan with no/limited credit)? Or would such a practice be considered discriminatory?
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