The Equal Credit Opportunity Act Makes It Illegal for a Creditor

question 477

True/False

The Equal Credit Opportunity Act makes it illegal for a creditor to take into account the income of a person who applies for credit.

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Definitions:

Predetermined

Established or decided in advance, not occurring by chance.

Aristotle

An ancient Greek philosopher and scientist, a student of Plato and teacher of Alexander the Great, whose writings covered many subjects and laid the groundwork for much of Western philosophy.

Friendships

Relationships between people based on mutual affection, trust, and support, not necessarily involving romantic or familial ties.

Material Acquisitions

The process of obtaining physical objects or possessions, often seen as a means of achieving status or happiness.