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The Equal Credit Opportunity Act makes it illegal for a lender to discriminate against a potential...

The Equal Credit Opportunity Act makes it illegal for a lender to discriminate against a potential borrower because of race, national origin, religion, or sex, but it is permissible to treat a borrower differently if he or she is on welfare.

true or false

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Answer #1

False.

The Equal credit opportunity Act makes it illegal for a creditor or a lender to discriminate against a potential borrower based on race, national origin, religion, or sex.

It does not even allow discriminating a consumer if he or she is on a welfare.

Which means that it prohibits treating consumers differently by providing them less favourable credit terms just because they are on welfare.

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