Question

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)
○ internal revenue service (irs)
○ fair credit reporting act (fca)
○ factual credit reward act (fcra)
○ equal credit opportunity act (ecoa)

Explanation:

The question is about identifying a law that eliminated discrimination in getting loans for women and minorities. The Internal Revenue Service (IRS) deals with tax collection, not credit discrimination. The Fair Credit Reporting Act (FCRA, note: the option has a typo as FCA, but the correct FCRA is about credit reporting, not discrimination elimination). The "Factual Credit Reward Act" is not a real act. The Equal Credit Opportunity Act (ECOA) was enacted to prohibit credit discrimination based on factors like gender, race, etc., so it matches the goal of eliminating loan discrimination for women and minorities.

Answer:

D. Equal Credit Opportunity Act (ECOA)