Under Georgia fair lending laws, which of the following best describes the concept of 'credit need' as it relates to prohibited discrimination?
Correct Answer
A) The prohibition against assuming a borrower's credit needs based on protected class characteristics
Under Georgia fair lending laws, lenders cannot assume a borrower's credit needs or appropriate loan products based on protected class characteristics such as race, gender, or ethnicity. Each borrower must be evaluated individually based on their stated needs and qualifications.
Why This Is the Correct Answer
Under Georgia fair lending laws, lenders cannot assume a borrower's credit needs or appropriate loan products based on protected class characteristics such as race, gender, or ethnicity. Each borrower must be evaluated individually based on their stated needs and qualifications.
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