Which of the Following Statements Is True of the Equal

question 28

Multiple Choice

Which of the following statements is true of the Equal Credit Opportunity Act of 1975?

• A) Creditors are prohibited from making credit decisions on the basis of discriminatory practices.
• B) Creditors are required to let consumers know how much they are paying in finance charges and interest.
• C) No public company may make, extend, modify, or renew any personal loan to its executive officers or directors, with limited exceptions.
• D) Destroying, altering, or falsifying records with the intent to impede or influence any federal investigation or bankruptcy proceeding is punishable.
• E) Businesses are required to withhold income taxes from employees' earnings and send them to the federal government.

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Definitions:

Ethical Behavior

Acting in ways consistent with what society and individuals typically think are good values.

Shared Goals

Objectives or aims that are held in common by a group, team, or partnership, promoting collaboration and collective effort.

Behavioral Tendencies

Patterns or dispositions in an individual's behavior that are characteristic and often predictable over time.

Clan Culture

An organizational culture characterized by a family-like atmosphere, with a strong emphasis on mentoring, nurturance, and loyalty among employees.