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Old Aug 4, 19, 8:50 am
  #224  
AlohaDaveKennedy
 
Join Date: Oct 2009
Location: Land of the parrots and parrotheads
Programs: Several dozen
Posts: 4,818
The bank may conclude that this person either:

A) owns a lot of real estate they paid all cash for in Miami
B) is a local governmental official that gets big Christmas presents from property developers
C) crewed on that infamous JP Morgan owned drug running ship
D) is the former mayor of the City of Baltimore

Originally Posted by Chris58 View Post
You're not considering a Bank's Government Regulatory Requirements under the BSA, "Bank Secrecy Act", I.E. "Know Your Customer"....
If a prime borrower. (based on Internal/External risk model scores), tells a bank they make $100,000/year, is then issued a Credit card with a $20,000 credit limit, and then proceeds to charge and pay back in full their full pre-tax annual income reported in a single month, (perhaps repeated for several months in a row). What exactly should the bank conclude from this activity?
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