QuestionQ104

VerifiedLaw, Ethics, and Security Compliance Management

Which U.S. statute prohibits creditors from collecting information from applicants, such as national origin, caste, religion, etc.?

Explanation

The Equal Credit Opportunity Act (ECOA) and its implementing Regulation B generally prohibit a creditor from inquiring about an applicant’s race, color, religion, national origin, or sex in connection with a credit transaction, subject to specified exceptions.

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