What May a Creditor Do in Response to an Application

question 19

Multiple Choice

What may a creditor do in response to an application for credit from a business with gross revenues of $1 million or less?

• A) Give a disclosure of the applicant's right to receive a statement of reasons at the time of the application instead of at the time of the adverse action
• B) Mention adverse action notices only if requested by the applicant
• C) Omit the ECOA statement on all notices NOTES
• D) Provide only the ECOA statement to the applicant

---

Definitions:

Sustainability Initiatives

Programs or actions taken by organizations or governments to maintain the balance of economic, environmental, and social systems for the well-being of current and future generations.

Business Strategy

A plan of action designed by organizations to achieve competitive advantage and meet their objectives.

Corporate Volunteerism

The policy or practice of employees volunteering their time or talents for charitable, educational, or other worthwhile activities, especially in the community.

Charitable Activities

Volunteer or donation-based efforts conducted by individuals or organizations to support causes and help those in need.