Equal Credit Opportunity Act
E82913
The Equal Credit Opportunity Act is a U.S. federal law that prohibits discrimination in any aspect of a credit transaction on the basis of characteristics such as race, sex, marital status, religion, national origin, age, or receipt of public assistance.
Aliases (1)
- Regulation B ×1
Statements (47)
| Predicate | Object |
|---|---|
| instanceOf |
United States federal law
→
anti-discrimination law → |
| administeredBy |
Consumer Financial Protection Bureau
→
Federal Trade Commission → |
| allows |
class actions
→
private civil actions → |
| appliesTo |
credit transactions
→
creditors → |
| codifiedAt |
15 U.S.C. § 1691 et seq.
→
|
| country |
United States
→
|
| covers |
business credit
→
consumer credit → |
| enactedBy |
United States Congress
→
|
| enforcedBy |
Consumer Financial Protection Bureau
→
Federal Trade Commission → federal banking agencies → state attorneys general → |
| implementedByRegulation |
Regulation B
→
|
| partOf |
Consumer Credit Protection Act
→
|
| permits |
consideration of age in certain legitimate underwriting circumstances
→
|
| primaryPurpose |
prohibit credit discrimination
→
|
| prohibits |
credit scoring systems with discriminatory effects
→
discouraging applicants on a prohibited basis → |
| prohibitsDiscriminationOnBasisOf |
age
→
color → exercise of rights under the Consumer Credit Protection Act → marital status → national origin → race → receipt of public assistance → religion → sex → |
| providesFor |
actual damages
→
attorney’s fees → equitable and declaratory relief → punitive damages → |
| publicLawNumber |
Public Law 93-495
→
|
| RegulationBCodifiedAt |
12 C.F.R. Part 1002
→
|
| relatedTo |
Fair Credit Reporting Act
→
Fair Housing Act → Truth in Lending Act → |
| requires |
collection of monitoring information for certain mortgage applications
→
notice of adverse action → record retention by creditors → |
| scope |
any aspect of a credit transaction
→
|
| shortName |
ECOA
→
|
| yearEnacted |
1974
→
|
Referenced by (6)
| Subject (surface form when different) | Predicate |
|---|---|
|
Community Reinvestment Act
→
Community Reinvestment Act → Home Mortgage Disclosure Act → |
relatedTo |
|
Consumer Financial Protection Bureau
→
Housing and Civil Enforcement Section → |
enforces |
|
Equal Credit Opportunity Act
("Regulation B")
→
|
implementedByRegulation |