ECOA and Fair Housing Borrower Protection Acts

The Equal Credit Opportunity Act and the Fair Housing Act, both protect borrower's rights to obtain credit, without discrimination.

The ECOA, established in 1974, is administered by the Federal Reserve Board and enforced by FRB as well as FDIC.

Special classes set out in the ECOA, are marital status, age, people receiving public assistance and applying borrowers who have used the Consumer Protection Act.

The Fair Housing Act, which is part of the Civil Rights act of 1968, is administered by HUD, for transactions involving sales, rental properties, leases and financing real property.

Fair Housing Act especially addresses possible discrimination via familiar status and disability recipients requiring special accommodations.

Unless living in a community property state, it is illegal to ask a loan applicant marital status questions other than if they are married, unmarried or separated. However, California is a community property state.

ECOA and Fair Housing Borrower Protection Acts

The Equal Credit Opportunity Act and the Fair Housing Act, both protect borrower's rights to obtain credit, without discrimination.

Fair Lending Laws