Equal Credit Opportunity Act (Regulation B)

The Equal Credit Opportunity Act (Regulation B) is a federal law that prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, or age. It requires lenders to apply credit standards uniformly and to notify applicants of the reasons for denial.

Why it’s in the news: It is in the news because the Consumer Financial Protection Bureau is responsible for enforcing this regulation.

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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