Today, in class, we were discussing questions relating to banking as we are doing the financial crisis. Some of the questions made me think about how bankers have difficult choices to make. For example, they have to decide giving between different citizens loans. In class, we discussed four possible different people to loan to : a lady who wanted to buy an expensive watch, a man who wanted to buy a house for his family, another man who wanted to make a car business and a lady who wished to make a charity for refugees arriving in the country. At the time, our club chose the man who wished to start a car business. We chose him because we believed he would be able to pay off the loan ( with interest) most quickly. However, this was because we were thinking like business men. If I was being myself, I would have chosen the man who wanted to buy a house for his family because he was trying to provide for his family and it was the moral idea to do. I was curious to know whether bankers did , as we thought, choose the person to make more money or the person with the most justifiable reason; therefore, I decided to look into it. On the website below, I found out that your credit score largely determines whether you will qualify for a loan. This implies the bankers keep their personal feelings apart from their job. Let me know what you think.
Link found at : https://www.nerdwallet.com/blog/loans/personal-loan-bank-credit-union/