Denied because bank doesn’t like owner of my company

[Kyle Tu]

I’m trying to buy a property right now. My bank came back and says that because they don’t like who owns the company I work at, they don’t want to lend to me. Can a bank decline my loan because they don’t like the owner of my company? I’d switch banks if I could, but won’t have time and don’t want to lose my earnest money. Thanks! 

[Russell Brazil]

Sure. As long as the reason is personal animosity and not based on factors like race, sex, etc. 

It's one of the great things about our economic system....we can do business with who we want, or not do business with who we do not like, as long as its not based on race, sex, religion, ethnicity, gender identity, etc.