Private Remedies for Violation of the Equal Credit Opportunity Act

question 114

Multiple Choice

Private remedies for violation of the Equal Credit Opportunity Act include recovery of punitive damages up to ______.

• A) $100,000
• B) $50,000
• C) $10,000
• D) $20,000
• E) $500,000

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Definitions:

Types of Stock

Refers to the different categories of stock that a company issues, commonly including common stock and preferred stock.

Stockholder

An individual or entity that owns shares in a corporation, thus holding a portion of the corporation's equity.

Company's Assets

This encompasses all items of value owned by a company, including cash, real estate, equipment, and intellectual property, which are utilized in generating revenue.

Limited Liability

Freedom of stockholders from personal liability for the debts of the corporation.