Social studies

posted by Mydogbear

The regulations help creditworthiness people obtain charge accounts loans mortgages and other kinds of credit by not allowing creditors to treat applicants unfairly. But the regulations do not guarantee the applicant credit. Creditors may still determine creditworthiness by considering such factors as a income , expenses, age, debts, and reliability of the applicant. All creditors who regularly extend credit are covered by these regulations, including banks, small loans, and finance companies, retail and department stores, credit card companies, and credit unions.

Which of the following statements is the most likely reason why there was a need for regulating credit?

(1) in the past women and minority's found it difficult to obtain credit
(2) all groups in our society use credit responsibility
(3) many people misuse credit
(4) certain groups of people are good credit risks and others are not
(5) credit discrimination has been eliminated in most modern countries.



I think # 4 can someone please check my answer

  1. Ms. Sue

    Nope.

  2. Mydogbear

    Which of the following ideas under the regulations described?


    (1) all applicants for a loan are equally creditworthy
    (2) the ability to repay a loan doesn't depend on gender or race
    (3) consumers have a right to borrow money whenever they need it
    (4)everyone has an equal right to credit regardless of his or her financial situation
    (5) each lending institutions is the best judge of its lending practice

    I think #2 but not sure

  3. Mydogbear

    #3 many people misuse

  4. Mydogbear

    Top one #3

  5. Ms. Sue

    3 and 4 are wrong for the first question. Please do not post this again.

    2 is right for the second question.

  6. Mydogbear

    First question #5

Respond to this Question

First Name

Your Answer

Similar Questions

  1. FIN--help

    Please tell me what you think about my assignment. Also, if you would improve my response by including your add-ins, it would be great. But ofcourse, I will have to rewrite it and reference you. In this assignment we are asked,” …
  2. finance

    can someone correct these for me when you have a few minutes i'll appreciate any help thankyou.my answers are in parenthesis thanks again. Indicate whether a debit or credit decreases the normal balance of each of the following accounts: …
  3. accounting

    Linking debit or credit with normal balance C5 Indicate whether a debit or credit decreases the normal balance of each of the following accounts: a. Office Supplies debit b. Repair Services Revenue debit c. Interest Payable credit …
  4. Com170

    Analyze why one paragraph was more effective than the other. In my analysis, compare the sentence structure, word choice, punctuation, variety, and the rhythm of both paragraphs. Most consumers understand that a good credit score is …
  5. Probability - PLEASE HELP

    From industry statistics, a credit card company knows that 0.8 of its potential card holders are good credit risks, and 0.2 are bad credit risks. The company uses discriminant analysis to screen credit card applicants and determine …
  6. Accounting

    In a trial balance there are amounts in the debit side and credit side. How do i know which one is debtors or creditors?
  7. Accounting

    Hankco accepts all major bank credit cards, including Omni Bank's, which assesses a 3% charge on sales for using its card. On June 28, Hankco had $4,500 in Omni Card credit sales. What entry should Hankco make on June 28 to record …
  8. child day care

    Most licensing agencies offer an orientation meeting for applicants who want to obtain licensing for a child care facility or a family day care home. This meeting is designed to help the applicant to A. determine where to open his …
  9. Social studies

    The regulations creditworthiness people obtain charge accounts, loans, mortgages, and other kind of credit by not allowing creditors to treat applicants unfairly. But the regulations do not quarantee the applicant credit. Creditors …
  10. Principle to Business

    Which of the following are fast ways of improving your credit score (within 60 days)?

More Similar Questions