Can a creditor inquire about an applicant's marital status?

A creditor can indeed inquire about an applicant's marital status, provided the information is not used in any discriminatory manner during the credit decision process. This aligns with the requirements of certain regulations that restrict the use of marital status as a factor in determining creditworthiness.

Understanding this context is crucial: while a creditor may find it useful to know marital status for purposes of understanding the applicant's financial situation or obligations, such information must not influence lending decisions in a discriminatory way. This is to ensure compliance with laws designed to prevent unfair lending practices, such as the Equal Credit Opportunity Act (ECOA), which seeks to eliminate biases in credit applications.

The option that indicates the need for consent is less straightforward. While it is a good practice to inform applicants about inquiries, the requirement for explicit consent is not as strict as some other personal information might be. The creditor has the right to ask, but best practices dictate that applicants be aware of why such information is being requested.

Therefore, the handling of marital status inquiries is nuanced; it can be asked and collected but must be managed properly to avoid crossing legal and ethical boundaries regarding discrimination in lending.