Which Federal Consumer Credit Law Starts All Credit Applicants Off

question 153

Multiple Choice

Which federal consumer credit law starts all credit applicants off on the same footing with factors that may not be used to discriminate against you?

• A)Fair Credit Reporting Act
• B)Truth in Lending Act
• C)Fair Credit Billing Act
• D)Fair Debt Collection Practices Act
• E)Equal Credit Opportunity Act

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Definitions:

Poverty

A state or condition in which a person or community lacks the financial resources and essentials for a minimum standard of living.

Income Gap

The disparity in the distribution of income within a population, typically between different socio-economic groups.

Neoliberalism

An economic and political ideology that emphasizes free-market capitalism, deregulation, and a reduction in government spending on social services.

Industrialization

The process by which an economy is transformed from primarily agricultural to one based on the manufacturing of goods, involving an increase in production, technological innovation, and infrastructure.