Equity Lending Company extends credit to consumers. Equity applies a variety of requirements to determine applicants' qualifications for credit, the amount, the interest rate, and other terms. Under the Equal Credit Opportunity Act, the lender cannot base its credit decisions on an applicant's

Question

Quizplus · Accepted Answer

Under the Equal Credit Opportunity Act, lenders cannot discriminate against applicants based on their gender, race, color, religion, national origin, marital status, or age. Therefore, the lender cannot base its credit decisions on an applicant's gender.

Equity Lending Company Extends Credit to Consumers