Law
Equal Credit Opportunity Act
Prohibited discrimination in credit transactions based on race, sex, and other factors.
Year
1974
Impact
Positive
Status
Active
Party
Republican Party
Era
Contemporary Era
Impact Context
Improved access to credit for historically marginalized groups.
What This Policy Did
Improved access to credit for historically marginalized groups.
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Sources
Government
U.S. Department of Justice • Government • Jan 2, 2025
DOJ overview of ECOA stating that creditors may not discriminate on the basis of race, color, religion, national origin, sex, marital status, age, public assistance income, or exercise of rights under consumer protection law.
U.S. Department of Justice • Government • Feb 11, 2025
DOJ fair lending enforcement page explaining that ECOA and the Fair Housing Act protect equal access to credit.
U.S. Department of Justice • Government • Dec 2, 2024
DOJ blog post marking the 51st year of ECOA and discussing its role in fair lending enforcement.