Finance
A Kentucky mortgage lender that charges excessive fees and terms exploiting vulnerable borrowers may be violating:
AThe Equal Credit Opportunity Act
BPredatory lending laws and HOEPA (Home Ownership and Equity Protection Act)✓ Correct
CThe Community Reinvestment Act
DThe Real Estate Settlement Procedures Act
Explanation
HOEPA (the Home Ownership and Equity Protection Act) provides special protections for high-cost loans, requiring additional disclosures and restricting certain predatory terms. Predatory lending practices also violate state consumer protection laws.
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