Flat Foot Floey
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This opens the door for all kind of misuse of their power and arbitrariness. Who can tell if people have a good character? By the way they look (likable and friendly= gets the loan, grumpy face doesn't get it)?American banker J.P. Morgan considered character the number one criterion for making a loan. There were other criteria of course, but if character was lacking there was very little chance of him approving a loan no matter what else the borrower had.
The people who decide are only humans too. So they can fail.