Definition:
Equal Credit Opportunity Act
Back to Finance Glossary | Previous Page
The Equal Credit Opportunity Act is legislation passed by the U.S. Congress in 1974 that prohibits lenders from asking certain questions of a borrowing customer.These questions might include the customer's age, race or religion. The act also prohibits lenders from denying a loan based solely on a credit applicant's age, race, religion, ethnic origins, receipt of public assistance or other similar factors.
Latest Articles Related to Equal Credit Opportunity Act
Back to Finance Glossary | Previous Page
This web site is intended only to convey information. It is not to be construed as an investment guide or as an offer or solicitation of an offer to buy or sell any securities. The author has taken all usual and reasonable precautions to determine that the information contained in this website has been obtained from sources believed to be reliable.
