The Equal Credit Opportunity Act Makes It Illegal for a Creditor

question 289

True/False

The Equal Credit Opportunity Act makes it illegal for a creditor to take into account whether or not the person applying for credit receives public benefits (welfare).

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Definitions:

Time Delay

Time Delay refers to a deliberate pause introduced into a control system or circuit to delay the activation or deactivation of an operation or signal.

De-energized

A state in which electrical equipment is not connected to a source of power and has no electric charge.

Hardwired Circuit

A physical electrical circuit built through direct connections rather than programmable or software-controlled interfaces.

Coil TD

Time Delay coil in programmable logic controllers or electrical circuits, providing a delay function before enabling an action.