A lender is reviewing a mortgage application. Which federal law bars the lender from denying credit based on marital status, age, or receipt of public assistance income when otherwise lawful?
Correct Answer
A) Equal Credit Opportunity Act (ECOA)
Equal Credit Opportunity Act (ECOA) is correct because the facts match a federal law prohibiting credit discrimination based on protected characteristics such as race, color, religion, national origin, sex, marital status, age, receipt of public assistance, or exercise of consumer credit rights. That is the best description of the relationship, right, or legal concept tested here.
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