You asked: Which of the following are prohibited basis for discrimination under the Equal Credit Opportunity Act?

What is prohibited under the Equal Credit Opportunity Act?

This Act (Title VII of the Consumer Credit Protection Act) prohibits discrimination on the basis of race, color, religion, national origin, sex, marital status, age, receipt of public assistance, or good faith exercise of any rights under the Consumer Credit Protection Act.

Which of the following is not a prohibited basis under the Equal Credit Opportunity Act?

Except as otherwise permitted or required by law, a creditor shall not consider race, color, religion, national origin, or sex (or an applicant’s or other person’s decision not to provide the information) in any aspect of a credit transaction.

Which of the following is a prohibited basis?

The definition of prohibited basis varies based on the specific regulation, but the possible prohibited bases are: race or color, religion, national origin, gender or sex, marital status, age, receipt of income from public assistance, exercise of rights under the CCPA, handicap, or familial status.

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Which of the following are prohibited bases under the FHA and ECOA?

The FHAct prohibits discrimination in the sale, rental, and financing of dwellings, and in other housing-related transactions, based on race, color, national origin, religion, sex, familial status (including children under the age of 18 living with parents or legal custodians, pregnant women, and people securing …

Which of the following prohibited factors Cannot be used when making credit decisions?

Which of the following prohibited factors Cannot be used when making credit decisions? Prohibited bases: race, color, religion, national origin, sex, marital status, age (provided the applicant has capacity to contract), receipt of public assistance, or exercise of rights under the Consumer Credit Protection Act.

What is credit discrimination?

What is credit and lending discrimination? Credit and lending discrimination occurs when a lender allows protected traits, such as race, color or sexual orientation, to influence its decision to offer you credit or a loan.

Which of these are prohibited basis for discrimination?

Generally, the fair lending policies NCUA analysts review mention the most familiar prohibited bases for discrimination. Those are race, color, religion, national origin, sex, marital status, age, and for real estate related loans subject to the Fair Housing Act, familial status and handicap.

What is prohibited basis?

Prohibited basis means race, color, religion, national origin, sex, marital status, or age (provided that the applicant has the capacity to enter into a binding contract); the fact that all or part of the applicant’s income derives from any public assistance program; or the fact that the applicant has in good faith …

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Which of the following are prohibited basis under ECOA?

The Federal Trade Commission (FTC), the nation’s consumer protection agency, enforces the Equal Credit Opportunity Act (ECOA), which prohibits credit discrimination on the basis of race, color, religion, national origin, sex, marital status, age, or because you get public assistance.

What are the prohibited basis that fair lending protects?

Fair lending prohibits lenders from considering your race, color, national origin, religion, sex, familial status, or disability when applying for residential mortgage loans.

What are prohibited factors?

There are nine prohibited factors under the ECOA. Most people are familiar with seven of them: gender, race, color, religion, national origin, marital status and age.

Which of the following occurs when a lender openly discriminates on a prohibited basis?

Disparate treatment occurs when a lender treats a credit applicant differently based on one of the prohibited bases. Disparate treatment ranges from overt discrimination to more subtle disparities in treatment.