The Equal Credit Opportunity Act of 1974 is a federal law that prohibits lenders from discriminating against borrowers on the basis of race, color, religion, national origin, sex, marital status, age, or receipt of public assistance. It also requires lenders to provide equal access to credit and to disclose the
The Equal Credit Opportunity Act (ECOA) is a United States law, enacted October 28, 1974, that makes it unlawful for any creditor to discriminate against any applicant, with respect to any aspect of a credit transaction, on the basis of race, color, religion, national origin, sex, marital status, or age ; the applicant's use of a public assistance program to receive all or part of their income; or the applicant's previous good-faith exercise of any right under the Consumer Credit Protection Act. The law applies to any person who, in the ordinary course of business, regularly participates in a credit decision, including banks, retailers, bank card companies, finance companies, and credit unions.