The Equal Credit Opportunity Act (ECOA) Prohibits a Lender from Discriminating

question 40

Multiple Choice

The Equal Credit Opportunity Act (ECOA) prohibits a lender from discriminating based on

• A) Race.
• B) Nationality.
• C) Age.
• D) Sex.
• E) All of these are prohibited.

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Definitions:

Interdependence

Describes a relationship between entities where each is mutually reliant on the others for success or survival.

Product Markets

Markets where finished goods or services are traded, often categorised by types of products, geographical areas, and customer segments.

European Union

A political and economic union of 27 European countries aimed at fostering economic cooperation and ensuring free movement of people, goods, services, and capital.

Trade Barriers

Measures implemented by governments to restrict or discourage international trade, such as tariffs, quotas, and embargoes.