When a Consumer Is Rejected for Credit, the Equal Credit

question 226

True/False

When a consumer is rejected for credit, the Equal Credit Opportunity Act requires the creditor to give the consumer the name of the federal agency that enforces the Act and must tell the consumer their basic rights.

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Definitions:

Emphasizes Relationships

Emphasizing relationships involves prioritizing and nurturing the connections and interactions between individuals, groups, or organizations to foster trust, collaboration, and mutual benefits.

Optimism

The tendency to look on the more favorable side of events or conditions and to expect the most favorable outcome.

Job Rotation

A workforce management practice where employees are moved between different jobs to increase their skills and experience.