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1
EFFECTS OF FEDERAL BUSINESS LAWS ON LOCAL AND STATE BUSINESSES
AND COMMUNITIES.
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2
EFFECTS OF FEDERAL BUSINESS LAWS ON LOCAL AND STATE BUSINESSES
AND COMMUNITIES.
Every country around the world has various laws that govern them. Different
countries’ laws are written in their respective constitutions, while some countries like the
United States of America have their laws enshrined in different articles. Hence, the laws are
divided into different categories like privacy laws, criminal laws, international laws, and even
business or commercial laws (Xisheng, 2021). The business laws are hence meant to regulate
how different businesses operate within a country. Thus, the United States of America also
has many business laws that govern the operation of businesses within its borders.
1st law
One of the laws that govern different businesses is the Equal Credit Opportunity Act.
The equal credit opportunity Act prohibits all forms of discrimination by lending firms when
offering loans to individuals or businesses in the United States of America (Federal Trade
Commission). These forms of discrimination may include racial discrimination, sex, age,
marital status, religion, color, or even receipt of public assistance. The Act also states that the
creditors must provi…
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