American Bankers Association CRCM Exam - Topic 10 Question 94 Discussion

Actual exam question for American Bankers Association's CRCM exam

Question #: 94
Topic #: 10

The Equal Credit Opportunity Act (ECOA) was enacted in 1974 to prevent discrimination in credit transactions. In 1975 the act was amended. Which of the following prohibited base/s are now included in it?

ANational origin

BExercise of rights under the Consumer Credit Protection Act

CReceipt of public assistance income

DAll of these

Show Suggested Answer

Suggested Answer: D

by Lottie at Aug 06, 2024, 09:56 PM

Limited Time Offer

25%

Off

Get Premium CRCM Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Quiana

7 months ago

Totally agree, it's great that they included national origin!

upvoted 0 times

...

Berry

7 months ago

Not sure if all of these are really included, sounds too broad.

upvoted 0 times

...

Carlee

8 months ago

Wait, public assistance income is covered? That's interesting!

upvoted 0 times

...

Van

8 months ago

I think all of these bases are included now.

upvoted 0 times

...

Elliot

8 months ago

ECOA was indeed enacted in 1974!

upvoted 0 times

...

Scarlet

8 months ago

I’m leaning towards D, "All of these," since it seems like they all relate to preventing discrimination in credit transactions.

upvoted 0 times

...

Sylvia

8 months ago

I practiced a similar question where public assistance income was mentioned, so I feel like that could be part of the answer too.

upvoted 0 times

...

Idella

9 months ago

I think national origin was definitely included, but I’m not certain about the others.

upvoted 0 times

...

Melodie

9 months ago

I remember studying the ECOA, but I'm not completely sure which bases were added in the 1975 amendment.

upvoted 0 times

...

Casandra

9 months ago

Ah, this is a good one. I remember learning about the ECOA in class. I'm pretty sure the prohibited bases include national origin, exercise of rights under the Consumer Credit Protection Act, and receipt of public assistance income. I'll mark that as my answer.

upvoted 0 times

...

Lashaunda

9 months ago

Okay, let me see. I know the ECOA was amended in 1975, so the prohibited bases must have been expanded at that time. I think the answer is probably "All of these", but I'll double-check my notes to be sure.

upvoted 0 times

...

Fatima

9 months ago

Hmm, I'm a little unsure about this one. I know the ECOA prohibits discrimination, but I can't remember all the specific prohibited bases. I'll have to think this through carefully.

upvoted 0 times

...

Glory

9 months ago

This seems like a straightforward question about the prohibited bases under the ECOA. I'm pretty confident I can answer this correctly.

upvoted 0 times

...

An

9 months ago

I'm a little confused here. Is it just asking about the KPI, or do we need to explain how we'd use that KPI to determine the impact? I want to make sure I fully understand the question before answering.

upvoted 0 times

...

Winfred

9 months ago

I believe the key is in the actual attributes of transformational leaders, and following a course at Harvard doesn't really define a super-leader. Option D seems like the odd one out to me!

upvoted 0 times

...

Lorriane

9 months ago

Individual? That's an interesting choice. I'm not totally confident, but I'll go with that for now.

upvoted 0 times

...

Nikita

1 year ago

D) All of the above, for sure. I'd be shocked if the ECOA didn't cover all those bases. Gotta keep those credit decisions fair, you know?

upvoted 0 times

Phung

1 year ago

D) All of these

upvoted 0 times

...

Bulah

1 year ago

C) Receipt of public assistance income

upvoted 0 times

...

Nickolas

1 year ago

B) Exercise of rights under the Consumer Credit Protection Act

upvoted 0 times

...

Dorian

1 year ago

A) National origin

upvoted 0 times

...

Deandrea

1 year ago

Hmm, I'm going to go with D) All of these. Can't go wrong with the comprehensive answer, right? *winks*

upvoted 0 times

Melda

1 year ago

User 3: Agreed, D) All of these covers all the bases.

upvoted 0 times

...

Glen

1 year ago

User 2: Yeah, that seems like the most comprehensive option.

upvoted 0 times

...

Justine

1 year ago

User 1: I think D) All of these is the best choice.

upvoted 0 times

...

Halina

1 year ago

D) All of these sounds right to me. I remember learning about the ECOA and how it covers a wide range of protected bases.

upvoted 0 times

Nancey

1 year ago

D) All of these sounds right to me. I remember learning about the ECOA and how it covers a wide range of protected bases.

upvoted 0 times

...

Vicki

1 year ago

D) All of these

upvoted 0 times

...

Kassandra

1 year ago

C) Receipt of public assistance income

upvoted 0 times

...

Lewis

1 year ago

B) Exercise of rights under the Consumer Credit Protection Act

upvoted 0 times

...

Juan

1 year ago

A) National origin

upvoted 0 times

...

Carmen

1 year ago

I think the answer is D) All of these. The ECOA prohibits discrimination based on national origin, exercise of rights under the Consumer Credit Protection Act, and receipt of public assistance income.

upvoted 0 times

Bernardine

1 year ago

Yes, the ECOA helps protect individuals from unfair treatment in credit transactions.

upvoted 0 times

...

Mitsue

1 year ago

Discrimination in credit transactions can have serious consequences.

upvoted 0 times

...

Lon

1 year ago

It's important to ensure equal access to credit for everyone.

upvoted 0 times

...

Magnolia

1 year ago

I agree, the ECOA prohibits discrimination based on all of those factors.

upvoted 0 times

...

Rhea

1 year ago

I'm not sure, but it makes sense that all these bases are included to prevent discrimination in credit transactions.

upvoted 0 times

...

Bronwyn

1 year ago

I agree with Beckie, because the ECOA prohibits discrimination based on national origin, exercise of rights under the Consumer Credit Protection Act, and receipt of public assistance income.

upvoted 0 times

...

Beckie

1 year ago

I think the answer is D) All of these.

upvoted 0 times

...