Equal Credit Opportunity Act (ECOA) Financial Glossary

What is it? A Federal statute that makes it illegal for creditors to discriminate in any aspect of a credit transaction on the basis of sex, marital status, age, race, national origin, color, religion, receipt of public assistance, or the exercise of rights under the Consumer Protection Act. The Federal Reserve Board of Governors has adopted Regulation B to implement this statute.

Finance Term Definition Added By: Gavin

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