Question

Q23 - The Equal Credit Opportunity Act prevents discrimination in all the following except: Select one:...

Q23 - The Equal Credit Opportunity Act prevents discrimination in all the following except:

Select one:

a. taking the application

b. investigating credit history

c. making the loan decision

d. supplying credit information

e. none of the above (no exceptions)

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Homework Answers

Answer #1

Answer: e. none of the above (no exceptions)

Explanation:

The Equal Credit Opportunity Act (ECOA) is a law created and enforced by the US government with an objective to provide equal opportunities to every individual in obtaining loand and other credit options from the lenders and financial institutions.

This ECOA Act is intended to prevent discrimination of any age,gender race, colour, marital status, religion or other non-creditworthiness factors when evaluating a loan application, setting upthe terms of a loan, granting the loan or any other aspect of a credit transaction.

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