A compliance manager is training staff on ECOA and Regulation B using a new-license application. Which statement is accurate?
Correct Answer
B) Use consistent, credit-related underwriting standards
ECOA/Regulation B prohibits discrimination and requires action notices and valuation copies. The best answer is "Use consistent, credit-related underwriting standards".
Why This Is the Correct Answer
ECOA/Regulation B prohibits discrimination and requires action notices and valuation copies. The best answer is "Use consistent, credit-related underwriting standards".
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