Credit and Bankruptcy Law


What does the Equal Credit Opportunity Act (ECOA) say?

§ 701. Prohibited discrimination; reasons for adverse action.

  • (a) It shall be unlawful for any creditor to discriminate against any applicant, with respect to any aspect of a credit transaction—

    • (1) on the basis of race, color, religion, national origin, sex or marital status, or age (provided the applicant has the capacity to contract);

    • (2) because all or part of the applicant’s income derives from any public assistance program; or

    • (3) because the applicant has in good faith exercised any right under the Consumer Credit Protection Act….


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