[AbrahamParangi]

This would also explain why Bank of America initially required an existing credit account. It makes sense that they would want to bail out their own bad debt with PPP money.

[Paradigma11]

I do not think that this criticism is fair. Banks asked but were not allowed to relax their legal KYC criterias.

Existing customers already fullfill these so they can be served while the others are processed. And ofcourse the whole system is completely swamped.

That being said i don't doubt that banks would have acted like this anyway.

[AbrahamParangi]

Hanlon's razor is usually true but assuming the opposite is usually wise.