Big Prime Inc.is a leading investment bank.Big Prime lends money to more men than women as it believes men are more likely to pay back their loans.In this case, Big Prime violates the ______.

Question

Quizplus · Accepted Answer

In this case, Big Prime Inc. violates the Equal Credit Opportunity Act (ECOA) as it discriminates its customers on the basis of sex. The ECOA prohibits discrimination based on sex, marital status, race, color, age, religion, national origin, or receipt of welfare in any aspect of a consumer credit transaction.