Under the Equal Credit Opportunity Act, a creditor is permitted to:
A) request any information they think necessary to make a decision about a credit applicant
B) discriminate against an applicant based on marital status
C) consider information about indirect credit history of an applicant
D) ask questions about applicant's plans to have children in order to calculate impact on future income
E) none of the other choices

Question

Quizplus · Accepted Answer

The Equal Credit Opportunity Act allows creditors to consider information about an applicant's indirect credit history, such as how they have managed other accounts, to make a lending decision. This is part of assessing the creditworthiness of an applicant. Discrimination based on marital status or asking about plans to have children is prohibited under this act, and while creditors can request information they believe is necessary, it must be within the confines of the law, which rules out options A, B, and D.

Under the Equal Credit Opportunity Act, a Creditor Is Permitted