Equal Credit Opportunity Act (Regulation B)

The Equal Credit Opportunity Act (Regulation B) is a federal law that prohibits creditors from discriminating against applicants on the basis of race, color, religion, national origin, sex, marital status, age, or receipt of public assistance. It requires that all credit applicants be treated equally and that creditors provide applicants with reasons for credit denials.

Why it’s in the news: It is in the news now because the Consumer Financial Protection Bureau is reviewing and updating the regulation to address modern lending practices and ensure it continues to prevent discrimination.

Latest on Equal Credit Opportunity Act (Regulation B)

• Equal Credit Opportunity Act (Regulation B)
• Consumer Financial Protection Bureau — Equal Credit Opportunity Act (Regulation B)

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