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Federal Equal Credit Opportunity Act

Federal Equal Credit Opportunity Act. By: Greg and Jake. What does it mean?. It makes it unlawful for any creditor to discriminate against any person based on race, sex, or marital status. Example:. A woman goes into a creditors office looking for a mortgage.

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Federal Equal Credit Opportunity Act

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  1. Federal Equal Credit Opportunity Act By: Greg and Jake

  2. What does it mean? • It makes it unlawful for any creditor to discriminate against any person based on race, sex, or marital status

  3. Example: • A woman goes into a creditors office looking for a mortgage. • The creditor looks at her background and sees no reason not to give her a loan • However he sees that she is a single mother and denies her the loan on the assumption that despite her credit, she will default • This act prohibits this

  4. Things they cant deny based on • Race-------------------------- • Gender---------------------- • Marital Status--------------

  5. Sources • http://www.kpbs.org/news/2009/sep/24/playwright-doug-wright-adapts-strindbergs-creditor/ • http://blogs.smithsonianmag.com/aroundthemall/files/2011/07/what-about-race-nmnh.jpg • http://www.studentloannetwork.com/tips/wp-content/uploads/2008/11/rings2.jpg • http://www.todayifoundout.com/wp-content/uploads/2010/01/gender.jpg

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