Quick answer
The ECOA prohibits credit discrimination based on protected characteristics, public-assistance income, or exercising rights under the Consumer Credit Protection Act.
Why it matters
The practical meaning.
If a lender treats an application differently because of a protected characteristic, the issue is not just poor service. It may be a federal credit-discrimination issue.
Key points
1.
It applies to credit decisions such as applications, terms, and account treatment.
2.
Protected categories include race, color, religion, national origin, sex, marital status, and age, among others.
3.
Keep application records and adverse-action notices when you suspect discrimination.