Financial Planner

Category - Professional Conduct and Regulation

What Federal Trade Commission Statue focuses on discrimination?
  1. Truth in Lending Act
  2. Fair Credit Billing Act
  3. Equal Credit Opportunity Act
  4. Credit Protection Act
Explanation
Answer: C - The Equal Credit Opportunity Act is the Federal Trade Commission Statue that focuses on discrimination. The Act is 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.

This Act also demands that any financial institution denying an individual credit to supply the underlying reason upon request of the applicant.
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