i recently went to a local bank in my small town in va. i walked in and talked to the manager or higher up guy who takes care of loans. i asked him for a loan to get a jeep with. he said no, we arent giving out loans. i have spoke with a woman at another bank and she said that fed reg. says that you atleast have to run a credit app on every1. do i have a case?
can a bank refuse a loan without even running a credit check?
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mightymoose
Moderator
No you do not. The bank does not have to loan money to anyone. Some banks may only do certain types of loans. Try another lender.
The credit check is only a necessity if a loan is actually issued- all recipients are to have a credit check done and the appropriate rates applied. Since the bank was not even considering a loan then it is not an issue.
The credit check is only a necessity if a loan is actually issued- all recipients are to have a credit check done and the appropriate rates applied. Since the bank was not even considering a loan then it is not an issue.
disagreeable
Well-Known Member
So did the other bank run a credit app on you?
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