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A. To refuse to issue a credit card, upon proper application, on t ie basis of unlawful <br /> discrimination. <br /> B. To fail to inform an applicant for a credit card, upon request, of the reason that his or her <br /> application for a credit card has been rejected. <br /> SECTION 7-4. Nothing contained in this Article shall prohibit: <br /> A. A financial institution from considering sound underwriting practices in contemplation of any <br /> loan to any person. Such practices shall include: <br /> (1) The willingness and financial ability of the borrower to repay the loan. <br /> (2) The market value of any real estate or other item of property propos d as security for any <br /> loan. <br /> (3) Diversification of the financial institution's investment portfolio. <br /> B. A financial institution or a person who offers credit cards from: <br /> (1) Making an inquiry of the applicant's age, permanent residence, immi ation status, or any <br /> additional information if such inquiry is for the purposes of determining the ount and probable <br /> continuance of income levels, credit history, or other pertinent element of credit-wo hiness. <br /> (2) Using any empirically derived credit system which considers ag if such system is <br /> demonstrably and statistically sound, except that in the operation of such system th age of an applicant <br /> over the age of 62 years may not be assigned a negative factor or value. <br /> C. A financial institution from refusing to extend credit when required to by r pursuant to any: <br /> (1) credit assistance program expressly authorized by law for an econo 'cally disadvantaged <br /> class of persons. <br /> (2) credit assistance program administered by a nonprofit organization fo its members of an <br /> economically disadvantaged class of persons. <br /> (3) special purpose credit program offered by a profit-making organization t meet special social <br /> needs. <br />