Under the Equal Credit Opportunity Act, a Creditor Is Permitted

question 470

Multiple Choice

Under the Equal Credit Opportunity Act, a creditor is permitted to:

• A) request any information they think necessary to make a decision about a credit applicant
• B) discriminate against an applicant based on marital status
• C) not count welfare benefits as income since they may end at any time
• D) ask questions about applicant's plans to have children in order to calculate impact on future income
• E) none of the other choices

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Definitions:

Socialization

The process through which individuals learn and internalize the norms, values, and behaviors appropriate to their society.

Education System

Constitutes the collection of public and private institutions, policies, rules, arrangements, and processes by which education is delivered, including schools, colleges, universities, and online platforms.

Common Culture

Relates to shared set of values, norms, and practices that unify a group or society.

Public Education

An educational system sponsored and funded by the government, accessible to all children in a society without charge.