It Is Against the Law to Charge a Higher Interest

question 61

True/False

It is against the law to charge a higher interest rate to individuals with poor credit.

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Definitions:

Moral

Relating to principles of right and wrong behavior and the goodness or badness of human character.

Unemployment

The state of being without a paid job despite actively seeking employment.

Poverty

A socio-economic condition marked by a severe lack of financial resources or means necessary to meet basic living needs.

Social Factors

Elements within society that influence how individuals and communities experience life, including education, culture, and economic conditions.