Finance
In Louisiana, which federal law prohibits discrimination in mortgage lending based on race, color, religion, national origin, sex, disability, or familial status?
AThe Community Reinvestment Act (CRA)
BThe Equal Credit Opportunity Act (ECOA) and the Fair Housing Act✓ Correct
CThe Real Estate Settlement Procedures Act (RESPA)
DThe Truth in Lending Act (TILA)
Explanation
The Equal Credit Opportunity Act (ECOA) prohibits discrimination in all aspects of credit transactions. The Fair Housing Act prohibits discrimination in mortgage lending. Together, they protect borrowers from discriminatory lending practices based on protected characteristics.
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