Real Estate Term of the Day: Equal Credit Opportunity Act

Real Estate Term of the Day: Equal Credit Opportunity Act

EQUAL CREDIT OPPORTUNITY ACT –  a federal law, enacted in 1974, to discourage discrimination by lenders on the basis of sex or marital status.  Amended in 1976 to prohibit discrimination on the basis of age, race, color, religion, national origin, or receipt of public assistance (Barron’s Dictionary of Real Estate Terms)

Equal Credit Opportunity: Understand Your Rights Under the Law

See also: Consumer Compliance Handbook

Equal Housing Lender


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