Question

One of the following is not true in regard to Prohibited Acts:

a. directly or indirectly employ any scheme, device, or artifice to defraud or mislead borrowers or lenders or to defraud any person
b. only allow licensed loan officers solicit loans
c. solicit, advertise, or enter into a contract for specific interest rates, points, or other financing terms unless the terms are actually available at the time of soliciting, advertising, or contracting
d. engage in any unfair or deceptive practice toward any person

Answer 1

Engaging in unfair or deceptive practices is prohibited under antitrust laws, which forbid unjust competitive behavior and practices like price fixing, as well as under the Civil Rights Act of 1964, which disallows employment discrimination.

Step-by-step explanation:

Under U.S. antitrust laws, engaging in unfair or deceptive practices is indeed considered a prohibited act. Specific laws, such as those that administer antitrust, forbid a wide range of activities considered unfair competition, including price fixing, monopolistic behavior, and deceptive practices. For example, while having a monopoly due to a patented invention is legally permissible as a reward for innovation, achieving market dominance through deceitful conduct is not. The antitrust law outlines rules against restrictive practices which can potentially reduce competition without involving explicit price-fixing or production agreements.

Title VII of the Civil Rights Act of 1964 also emphasizes the illegality of discriminatory acts in employment based on race, color, religion, sex, or national origin. Violating these laws, as well as any regulations regarding lobbying activities disclosure, can result in stiff penalties, including imprisonment for individuals and lawmakers. Hence, it is not true that one can engage in any unfair or deceptive practice toward any person without repercussions.