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Which of the Following Statements Is True of the Equal

Question 33

Multiple Choice

Which of the following statements is true of the Equal Credit Opportunity Act of 1975?


A) Creditors are prohibited from making credit decisions on the basis of discriminatory practices.
B) Creditors are required to let consumers know how much they are paying in finance charges and interest.
C) No public company may make, extend, modify, or renew any personal loan to its executive officers or directors, with limited exceptions.
D) Destroying, altering, or falsifying records with the intent to impede or influence any federal investigation or bankruptcy proceeding is punishable.
E) Businesses are required to withhold income taxes from employees' earnings and send them to the federal government.

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