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.
* It also requires lenders to provide all applicants with equal access to credit and prohibits them from discouraging applications based on any of these characteristics.
* The ECOA also requires lenders to provide certain disclosures to their customers and keep records of their actions in order to ensure compliance with the law.
See Also
[[Reg Z]]
[[Truth in Lending Act (TILA)]]