Areas of commercial bank regulation dealing with preventing banks from discriminating unfairly in lending are termed ________ re

Question

wolverine [178]

5 months ago

6

Areas of commercial bank regulation dealing with preventing banks from discriminating unfairly in lending are termed ________ re

gulations. group of answer choices

Social Studies

1 answer:

Aleonysh [2.5K] · Answer 1 · 2024-08-27T17:32:58+03:00

The consumer protection regulations prevent banks from discriminating unfairly in lending. According to these regulations, all the customers of the bank are equal and should be treated equally. These laws were laid down by the Banking Association to see that no customer was treated unfairly. If this was seen done by any bank the license of the bank can be canceled. The banker may lose all his respect and dignity by such an act.

The customer of the bank is a very important person as he deposits his life-saving in the bank for security. So the customer should have the confidence that he should be able to trust his banker fully. If the customer later comes to know that the bank discriminated unfairly against him he will lose all trust in the banking facility itself.

For the money regulation of the economy to rotate smoothly without any hindrances the banking association came out with these consumer protection regulations.