In evaluating your credit application,a lender may:
A)ask your age.
B)deny you credit if you are on public assistance.
C)require your parent's address.
D)decrease your credit because of your age.
E)discriminate against your race and nationality.

Question

Quizplus · Accepted Answer

The Equal Credit Opportunity Act (ECOA) allows lenders to ask for age to ensure the applicant is of legal age to enter into a contract. Other options like denying credit based on public assistance, decreasing credit due to age, or discriminating based on race or nationality are illegal under the ECOA.

In Evaluating Your Credit Application,a Lender May