No, spoken like someone who used to own a financial consulting company.
Those "hoops" your banker "friend" is referring to are simple steps of the credit underwriting process designed to determine whether there is a significant probability that you can actually pay back that loan.
There simply isn't a case where one needs funds and the regulation instituted by the evil liberal cabal prevents them from getting them. As I've stated before, cheap funds are available to everyone. Literally, everyone.
I'm sure most of those bankers are missing the good old days before the 2008 crash.
If you want I can elaborate on specific points in more detail.