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Lorico [155]
3 years ago
11

According to the FTC, how does the ECOA empower individuals?

Business
2 answers:
icang [17]3 years ago
5 0
<span>Credit cannot be denied based on unrelated factors.</span>
Musya8 [376]3 years ago
5 0

According to the FTC, how does the ECOA empower individuals? Credit cannot be denied based on unrelated factors.

FTC stands for the Federal Trade Commission and the ECOA stands for Equal Credit Opportunity Act. The ECOA is a law in the United States in regards to credit applications not being discrimated by race, color, religion, national origin, sex, maritial status, or age. The only reason a person should be denied from receiving loans is if they have a low credit score or other factors that directly relate to the reasons credit lenders deny consumers.

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Most 401 (k) or IRA accounts allow employees to roll-over their accounts from the old employer to the new employer. Depending on the account and how much time you have been making contributions, you could also cash your retirement account, but that would mean starting from zero with the new employer.

8 0
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When the total expenses are greater than the total revenues, then the income summary account has a debit balance.

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In the income summary account, all the revenue account closing entries are credited, and all the expenses closing entries are on the debit side.

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Learn more about "Income summary":

brainly.com/question/9122916

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C. Utilize coercive powers

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