Equal Credit Opportunity Act

Definition

A federal law prohibiting lenders from discriminating on the basis of the borrower's race, color, national origin, religion, age, sex, marital status, or public assistance program participation.

“ I was glad the equal credit opportunity act was in place because I had dealt with discrimination in the past. ”

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“ You need to make sure that you know all of the rules in the equal credit opportunity act and that you are following them. ”

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“ The Equal Credit Opportunity Act gave us confidence that we would be treated equally to our fellow residents in the community. ”

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