EQUAL CREDIT OPPORTUNITY ACT

The Equal Credit Opportunity Act prohibits the creditor from discriminating in any transaction on the basis of race, color, religion, national origin, sex, marital status, or age (provided that the applicant has the capacity to pay  the contract). The ECOA also prohibits other conduct:

The Exercise of Any Right Under the Consumer Credit Protection Act.

It is unlawful for any creditor to discriminate because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. For  example, a collector which brings suit against the consumer, when it would not  have done so otherwise, because the consumer filed an FDCPA claim violates the  ECOA.

Failure to Provide a Declination Letter.

Within thirty (30) days of application for credit, the creditor must inform  the consumer of the action taken on the application. The creditor’s notice must  state that credit has been granted, denied, or that further specific information is needed. The denial of the application entitles the consumer to obtain a copy of his credit report without cost.