Which of the Following Questions Is Prohibited Under the ECOA

question 22

Multiple Choice

Which of the following questions is prohibited under the ECOA?

• A)"Will your husband approve of you getting this credit card?"
• B)"Are you now pregnant or are you planning to be?"
• C)"We don't count public assistance income."
• D)All of the above are ECOA violations.

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Definitions:

Interest Revenue

Income earned from investments, such as savings accounts, bonds, or loans, calculated as a percentage of the principal sum.

Maturity Date

The specified date on which the principal amount of a financial instrument, such as a bond or loan, becomes due and payable.

Promissory Note

An economic vehicle that holds a firm promise made by one individual to another, obligating the former to deliver a certain amount of money, either when asked or at a future time that has been set in advance.

Interest Revenue

Income earned from lending money or other financial assets that generate interest.