Some people reading that headline may think, "It's been dead for years." But that's not correct. Even though in some markets, and at some institutions for certain categories of loans character lending may be a thing of the past, it is still around. For many community banks it remains their touchstone. We would submit that it also still exists at large banks in certain areas or markets. Some of them delegate greater authority to regional managers or line-of-business heads when it comes to credit granting. Even with credit cards, long a credit-scored product, some banks overrule score-based turndowns for customers they know well or for particular circumstances, as you can read in the feature beginning on page 32.
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