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 are acceptable factors for rejecting a loan? The most common reasons for rejection include a low credit score or bad credit
What Do Fair Lending And Anti Discrimination Laws Apply To? The federal fair lending laws—the Equal Credit Opportunity Act and the Fair Housing Act—prohibit discrimination in credit transactions, including transactions related to residential real estate. What are the 3 main fair lending regulations? The courts have recognized three methods of proof of lending discrimination under
When Lending Institutions Deny Loans Because Of The Location It Is Called? Redlining. refusal to lend in certain areas, usually inner-city; the illegal practice of a lending institution’s denying loans or restricting their number for certain areas of a community. What is the term for a lender refusing to lend in a specific area? redlining.