Consumer Credit Laws

The Equal Credit Opportunity Act forbids against certain forms of discrimination.

If a person can repay a loan, they cannot be denied credit on the basis of race, color, religion, national origin, sex, marital status, age, or source of income (if derived through public assistance). Discriminating against a person by denying them credit based on any of the above is illegal and can cost creditors up to $10,000 in punitive damages, as well as actual damages, attorney fees, and court costs.

Go back to Consumer Credit Laws