Equal Credit Opportunity Act (ECOA) Exam Bundle, VERIFIED|

ECOA Exam Review Questions and answers, VERIFIED. Regulation B requires that applications are dispositioned within 30 days of the application date. This means you need to: - -Request either verbally or in writing additional information from the borrower if you do not have enough to make a cre...

B. Equal Credit Opportunity Act (ECOA), 12 CFR Part 1002 (Regulation B), Questions and answers, verified/ ECOA when was it enacted - -1974 1. Subtopics a. Factors that cannot be used to discriminate - -Race Color Religion National origin Sex Marital status Age, as long as the loan appli...

ECOA Exam Review Questions and answers. VERIFIED/ A.Factors that can not be used to discriminate - -1.Race 2.Color 3.Religion 4.Sex 5.National Origin 6.Marital Status 7.Age 8. Receipt of income from public assistance 9.History of exercised rights under Consumer Protection Credit Act (Cred...

Equal Credit Opportunity Act (ECOA), Questions and answers, verified/ Title VII - -Enacted by Congress in 1974, ECOA was added to the Consumer Credit Protection Act as Equal Credit Opportunity Act/Regulation B - -To promote the availability of consumer credit to all applicants by prohibiting c...

ECOA EXAM Questions and answers, VERIFIED/ What does ECOA stand for? - -Equal Credit Opportunity Act What is the purpose of ECOA? - -to promote the availability of consumer credit to all applicants by prohibiting credit decision based on race, color, religion, national origin, gender, marital ...

ECOA Exam Review Questions and answers, VERIFIED/ Redlining - -when creditors refuse to make loans in certain neighborhoods due to the personal characteristics of the residents Reverse Redlining - -when predatory lenders targeted neighborhoods with elderly, immigrant, and minority population...

ECOA-Equal Credit and Opportunity Act. Questions and answers, VERIFIED/ According to Regulation B, when it comes to credit transactions, a creditor cannot discriminate: - - On the basis of the applicant's race, marital status, nationality, gender, age, or religion Against an applicant whose in...

ECOA Exam Review Questions and answers/ ECOA stands for - -Equal Credit Opportunity Act ECOA is regulation.. - --Regulation B -"B Equal" What has oversight over ECOA - --CFPB-Consumer Financial Protection Bureau ECOA Purpose - --To keep lender and brokers from discriminatory practices -To ...