Final answer:
True, Regulation B serves as the implementation of the Equal Credit Opportunity Act, which is a federal regulation that prohibits credit discrimination on several bases, including gender, race, and age.
Step-by-step explanation:
True, Regulation B implements the Equal Credit Opportunity Act (ECOA). The ECOA is a federal law that prohibits discrimination in the extension of credit based on gender, race, ethnicity, and, in some circumstances, age. This important legislation was enacted to prohibit practices such as refusing to loan money to married women without their husband's involvement or considering only a husband's income for family credit applications. The Federal Reserve ensures that banking institutions comply with this and other consumer protection laws, including the requirement for banks to publicly disclose information about their housing loans and the distribution of these loans by sex, race, and geographic location.