Rep. Ahn Cheol-soo heads to a People Power Party lawmakers' meeting at the National Assembly on Monday. (Yonhap) Rep. Ahn Cheol-soo of the main opposition People Power Party on Monday slammed KB Kookmin Bank for lowering the cap on mortgage lending, accusing it of following government policies at the cost of harming the public.“KB has cut off the people’s financial lifeline and betrayed them. It doesn’t deserve to carry the name ‘Kookmin,’” Ahn wrote on his Facebook page.“It would not be unreasonable for the bank to change its sign to ‘JM Jae-myung Bank’ instead.” The Korean word “kookmin” literally translates to “people of the nation” and is used to refer to the public.In line with the government’s drive to curb household debt and to control real estate prices, KB Kookmin Bank recently lowered the ceiling on mortgages to 300 million won ($200,000) from the previous 600 million won. The lowered limit applies to loans taken out for the purpose of purchasing residential real estate.Ahn said that KB Kookmin Bank’s move is influencing other banks to follow suit, and that the lowered limit leaves little option for ordinary homebuyers.Ahn went on to call on the government to exempt first-time buyers when they purchase a property to live in.“The fundamentals of real estate policies are to guarantee the people’s right to have a home,” Ahn wrote.“If Lee administration’s real estate policies fail, KB will be recorded as (a bank) that led the way in depriving (the people) of this basic right.”