During an MLO sponsorship update, a compliance manager identifies an issue involving ECOA and Regulation B. Which response is most compliant?
Correct Answer
A) Evaluate credit without prohibited-basis discrimination
ECOA/Regulation B prohibits discrimination and requires action notices and valuation copies. The best answer is "Evaluate credit without prohibited-basis discrimination".
Why This Is the Correct Answer
ECOA/Regulation B prohibits discrimination and requires action notices and valuation copies. The best answer is "Evaluate credit without prohibited-basis discrimination".
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