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:

Supervise Volunteers

The act of overseeing and guiding volunteers to ensure that their work contributes effectively to the goals of the organization or project.

Psychological Centrality

The perception of how significant or central a belief or attitude is to an individual's identity and sense of self.

Purposive Rationality

A decision-making process that involves setting specific goals and systematically pursuing them through the most efficient means.

Social Rationalism

A theoretical perspective that emphasizes the role of reason and rational thought in the organization of society and the behavior of its members.