This reminds me of a scenario I experienced about 10 years ago. At the time I had well over $200K in one bank spread among a checking account, savings account, money market account and a few other accounts. I needed about $5K to do some repairs to the back porch of a rental property I own. Upon checking was able to confirm I qualified for about a $25K signature loan at 13%. Applied for that since I could easily pay it off in a year or less without affecting my savings rate.
Everything was fine until I went to sign the paperwork and pick up the check. I was asked what the money was for. When I told them I was just fixing the back porch of a rental property the loan agent immediately pulled the paperwork and refused to give me the check because that was not the loan's "intended purpose". Well, it was the intended purpose and was clearly stated as such in the application.I wasn't going to argue.
I just left the loan officer's desk, walked over to a teller window and informed the teller to close all of my accounts immediately and give me my cash. When asked why I was closing the account, I told her why. She went and got the bank manager who was all apologetic and everything for the "innapropriate" actions of the loan officer. The loan officer had already shredded the check too. To the bank manager printed a new check and updated and reprinted the paperwork I needed to sign. I signed and walked out with the check in less than 5 minutes. Done deal.
Ever since then I've not seek that loan officer at that bank again, and I go in to that branch at least once a month without fail. Don't know if they got fired, transferred, demoted or what. Really don't care. Bottom line is, if it really had come to the point of me taking my money out of that bank and taking it to another, I would have just held back the $5K needed for the repairs and dealt with it that way.
The moral of the story is, money talks, B.S. walks.
