BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Your age, if you’re under 21
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Your credit score
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Your martial status, if you are single.
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Detailed explanation-1: -Additionally, creditors can’t: Impose different terms or conditions-such as a higher interest rate or higher fees-if based on your race, color, religion, national origin, sex, marital status, age, or whether you receive public assistance. Refuse to consider reliable public assistance in the same way as other income.
Detailed explanation-2: -The Equal Credit Opportunity Act (ECOA) prohibits discrimination in any aspect of a credit transaction. It applies to any extension of credit, including extensions of credit to small businesses, corporations, partnerships, and trusts.
Detailed explanation-3: -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.
Detailed explanation-4: -Your credit score is a measure of factors that may affect your ability to repay credit. It’s a complex formula that takes into account how you’ve repaid previous loans, any outstanding debt, and your current salary.