West Virginia Mortgage Law Practice Test

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Which of the following federal laws prompted the West Virginia Legislature to make amendments to WV Code?

  1. Equal Credit Opportunity Act

  2. Fair Credit Reporting Act

  3. Real Estate Settlement Procedures Act

  4. Truth-in-Lending Act

The correct answer is: Equal Credit Opportunity Act

The Equal Credit Opportunity Act (ECOA) prohibits credit discrimination on the basis of race, color, religion, national origin, sex, marital status, age, or receipt of public assistance. This federal law would have prompted the West Virginia Legislature to make amendments to the WV Code to ensure that the state's laws align with the protections offered by the ECOA and ensure fair treatment for all individuals seeking credit. The other options, while also important federal laws related to credit, were not the driving force behind the amendments made by the West Virginia Legislature.

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