I hope reporters will do the responsible thing and explain to people what the bank secrecy act and know your customers laws require in terms of vetting people who obtain CARES/PPP loans.

We don't want money in these programs going to terrorists and criminals.

It makes absolute sense that a bank who has an established deposit and lending(credit card, LOC, or loan) arrangement would prioritize those customers first as they are already "known" to the bank in a specific legal sense.

I know people need money. I do. I'm one of them. I got lucky that my bank was bank of America this morning. I could just as easily be waiting if it were another bank.

As a citizen, I already worry about waste and fraud here and I'm glad banks are trying to be responsible.

a few months from now when the horror stories come out about the small banks lending to themselves, their friends and family under suspicious circumstances, y'all are gonna be pissed off. then maybe this thread will matter.

so if you're pissed off that BankofAmerica won't prioritize you because they don't know you, you're free to go to any SBA lender. I'm no fan of big banks but in this case they are doing the responsible thing. Also...

remember that banks will make money on these loans. they are incented to do as many of them as they can.

Directing anger at them for being responsible only makes you look ignorant AF

All you had to do to have a lending relationship with BofA was to have a credit card with them. that simple. Honestly, it's ridiculous to be pissed at that right now.