The word is that the way the program was structured, the banks made more money by lending out larger amounts to fewer applicants. Chase is rumored to have prioritized their "Chase Private Client" members. Another large bank is rumored to have prioritized customers that owed them money.
The word is that the way the program was structured, the banks made more money by lending out larger amounts to fewer applicants. Chase is rumored to have prioritized their "Chase Private Client" members. Another large bank is rumored to have prioritized customers that owed them money.
Lots of discussion about this on Speddit.