The Equal Credit Opportunity Act would not prohibit which of the following? First Bank refuses to extend credit to:

Question

Quizplus · Accepted Answer

The Equal Credit Opportunity Act prohibits discrimination based on sex, age (provided the applicant has the capacity to enter into a contract), and national origin, among other factors. However, it does not prohibit credit decisions based on income levels, as income is a legitimate criterion for assessing the ability to repay a loan.

The Equal Credit Opportunity Act Would Not Prohibit Which of the Following