Under the Equal Credit Opportunity Act, It Is Unlawful to Discriminate

question 51

True/False

Under the Equal Credit Opportunity Act, it is unlawful to discriminate against an applicant because all or part of the applicant's income is obtained from a public assistance program.

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Definitions:

Fiscal Year

A 12-month period used for accounting and financial reporting purposes, which may not align with the calendar year.

Quarterly Income Statement

A financial report that displays a company's revenues, expenses, and net income over a three-month period.

Reportable Segments

Operational parts of a company with distinguishable financial information that is reported separately.

Financial Statements

Reports detailing the financial performance and position of a company, including the income statement, balance sheet, and statement of cash flows.