Equal Credit Opportunity Act - ECOA
Categories: Econ, Ethics/Morals, Regulations
The federal government thinks everyone should have the equal opportunity to, uh...get into debt.
Isn’t that sweet of them? That Uncle Sam sure does have a heart of gold.
Yeah, so…this federal law makes it illegal to discriminate against people who are applying for financing...based on their age, gender, marital status, religious affiliation, ethnicity, or public assistance benefits.
Your credit score, uh…still matters, though—sorry.