I submitted it to Bank A in digital format so as not to make it obvious that I just photoshopped it. Lying on a loan application may seem harmless, but even if a lender does not verify every piece of information, it is still considered fraud.Don't talk to the agent, and hire a lawyer. Submitting falsified documents constitutes fraud and can lead to severe legal consequences, including fines and imprisonment. Learn where to file a complaint about banking and investment products, retirement plans, and the companies and professionals that offer them. The California Financing Law requires the licensing and regulation of finance lenders and brokers making and brokering consumer and commercial loans.