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Q: What is the purpose of equal credit opportunity act?
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What is the function of the Equal Credit Opportunity Act?

The Equal Credit Opportunity Act prohibits discrimination in credit transactions on the basis of marital status, race, sex, and so forth.


Which of these protects you when applying to receive credit?

Equal Credit Opportunity Act


When was the Equal Opportunity Credit Act established?

The Equal Credit Opportunity Act was established in 1974. It prevents lenders from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age, or receipt of public assistance.


What do the letters ECOA stand for?

Equal Credit Opportunity Act Equal Credit Opportunity Act Enemy Courses of Action The Equipment Company Of America E-mail Change Of Address


Have any big named banks been sued under the equal credit opportunity act?

Have any big named banks been sued under the equal credit opportunity act?


Under the equal credit opportunity act what do you not have the right to do?

Refuse to pay credit card payment.


What do you not have the right to do under the Equal Credit Opportunity Act?

Refuse to pay credit card payment.


Why must you sign an Equal credit opportunity act notice?

ask cuoid dud


How does the equal credit opportunity act guarantee fairness?

The Equal Credit Opportunity Act ensures fairness by prohibiting lenders from discriminating against applicants based on factors such as race, color, religion, national origin, sex, marital status, age, or receiving public assistance. This helps to provide all individuals with an equal opportunity to access credit and loans.


The equal credit opportunity act of 1974 made it illegal to deny credit to someone because of what?

The Equal Credit Opportunity Act of 1974 made it illegal to deny credit to someone because of their race, color, religion, national origin, sex, marital status, age, or reliance on public assistance. This act aimed to prevent discrimination in access to credit and financial services.


Does the Equal Credit Opportunity Act grant privileges?

yes such as the federal income tax or the job union in the united states


How do you use the Federal Equal Credit Opportunity Act now?

The Equal Credit Opportunity Act (ECOA) was passed in 1974 and ammended in 1976. You dont "use" the ECOA per se unless you feel that you were denied credit in some form and that denial was based on something that the ECOA says you may not be denied for. Most reputable financial institutions and creditors follow the ECOA.