Equal credit opportunity refers to the requirement that creditors:
A) must disclose all relevant terms in credit transactions
B) must not use sex or race to determine a person's creditworthiness
C) must not use abusive debt collection techniques
D) all of the other specific choices are correct
E) none of the other specific choices are correct

Question

Quizplus · Accepted Answer

Equal credit opportunity requires that creditors must not use sex or race to determine a person's creditworthiness. This is a violation of the Equal Credit Opportunity Act (ECOA), which prohibits discrimination based on characteristics such as race, color, sex, religion, national origin, age, marital status, or receipt of public assistance. Other options such as disclosing all relevant terms in credit transactions and using non-abusive debt collection techniques are also required, but they are not necessarily part of the equal credit opportunity requirement specifically. Therefore, the best choice is B.

Equal Credit Opportunity Refers to the Requirement That Creditors