What act prohibits discrimination on the basis of race, color, nationality, sex, marital status or age in the granting of credit?

What act prohibits discrimination on the basis of race, color, nationality, sex, marital status or age in the granting of credit?

• A. Equal Credit Opportunity Act
• B. Civil Rights Act
• C. Fair Housing Act
• D. Truth in Lending Act

Answer: (A)

Discrimination in who can obtain credit is addressed by the Equal Credit Opportunity Act. This law bars lenders from denying or altering credit based on protected characteristics such as race, color, national origin, sex, marital status, or age, and it applies to most consumer credit transactions like credit cards and loans. The Civil Rights Act protects against discrimination in various areas but not specifically the practice of granting credit. The Fair Housing Act targets discrimination in housing transactions and financing related to housing, not credit more broadly. The Truth in Lending Act focuses on disclosing loan terms and costs rather than on who qualifies for credit.

Discrimination in who can obtain credit is addressed by the Equal Credit Opportunity Act. This law bars lenders from denying or altering credit based on protected characteristics such as race, color, national origin, sex, marital status, or age, and it applies to most consumer credit transactions like credit cards and loans. The Civil Rights Act protects against discrimination in various areas but not specifically the practice of granting credit. The Fair Housing Act targets discrimination in housing transactions and financing related to housing, not credit more broadly. The Truth in Lending Act focuses on disclosing loan terms and costs rather than on who qualifies for credit.