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In previous eras, it was almost impossible for women and minorities in the United States to get loans from banks and other financial institutions. Which of these was created to help eliminate this discrimination?

(1 point)
Responses

Internal Revenue Service (IRS)

Internal Revenue Service (IRS)

Fair Credit Reporting Act (FCA)

Fair Credit Reporting Act (FCA)

Factual Credit Reward Act (FCRA)

Factual Credit Reward Act (FCRA)

Equal Credit Opportunity Act (ECOA)

1 answer

The correct response is:

Equal Credit Opportunity Act (ECOA)

The ECOA was enacted to prevent discrimination in lending based on race, color, religion, national origin, sex, marital status, or age, thereby helping to eliminate barriers for women and minorities when it comes to obtaining loans.