Certified Regulatory Compliance Manager (CRCM) — Question 132

For what do ECOA and Regulation B extend coverage?

Answer options

• A. All types of credit
• B. Only consumer credit
• C. Only consumer credit of $25,000 or less
• D. Only consumer and business credit with gross revenues of $1 million or less

Correct answer: A

Explanation

The correct answer is A because ECOA and Regulation B apply to all forms of credit, including both consumer and business credit. The other options are incorrect as they limit the scope of coverage to specific categories or amounts of credit.