+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

Results for tag: "Equal Credit Opportunity Act"

  • 1 Results (Page 1 of 1)
Loading Indicator

The Equal Credit Opportunity Act (ECOA) is a federal law that prohibits lenders from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age, or receipt of public assistance. The ECOA was enacted in 1974 to ensure that all consumers have equal access to credit. The law applies to all types of consumer credit, including mortgages, auto loans, credit cards, and other types of consumer loans. The ECOA market is composed of banks, credit unions, and other financial institutions that offer consumer credit. These institutions must comply with the ECOA and other federal laws, such as the Fair Credit Reporting Act and the Fair Debt Collection Practices Act. The ECOA also requires lenders to provide applicants with information about their rights and responsibilities under the law. Some companies in the ECOA market include Bank of America, Wells Fargo, Chase, Citibank, US Bank, and Capital One. Show Less Read more