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Which of the Following Statements Is False

Question 18

Multiple Choice

Which of the following statements is false?


A) The Equal Credit Opportunity Act (Reg B) in the U.S. forbids discrimination in lending on the basis of race, color, national origin, sex, age, and marital status.
B) U.S. banks to not have any limits on how much they can lend to one borrower and has no restrictions on loans given to insiders.
C) The U.S. Fair Housing Act forbids discrimination based on any handicap or family status.
D) The U.S. Fair Credit Reporting Act of 1970 requires consumer credit agencies to stress accuracy, correct errors promptly, and to release individual consumer histories only for legitimate purposes.
E) The U.S. Truth in Lending (TIL) requirement requires that a bank must quote its rates as annual percentage rates.

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