The law applies to any person who, in the ordinary course of business, regularly participates in a credit decision, including banks, retailers, bankcard companies, finance companies, and credit unions.
Equal Credit Opportunity Act (ECOA) promotes the availability of credit to all creditworthy applicants without regard to race, color, religion, national origin, sex, marital status, or age (provided the applicant has the capacity to contract); to the fact that all or part of the applicant's income derives from a public ...
The Equal Credit Opportunity Act (ECOA) of 1974, which is implemented by the Board's Regulation B, applies to all creditors.
The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract); because all or part of the applicant's income derives ...
Protected Class: The groups protected from employment discrimination by law. These groups include men and women on the basis of sex; any group which shares a common race, religion, color, or national origin; people over 40; and people with physical or mental handicaps.
Final answer: Social Security is NOT included as a protected class under the Equal Credit Opportunity Act, making option D the correct answer.
ECOA prohibits discrimination in all aspects of a credit transaction and applies to any organization that extends credit—including banks, small loan and finance companies, retail stores, credit card companies, and credit unions. It also applies to anyone involved in the decision to grant credit or set credit terms.
This Act (Title VII of the Consumer Credit Protection Act) prohibits discrimination on the basis of race, color, religion, national origin, sex, marital status, age, receipt of public assistance, or good faith exercise of any rights under the Consumer Credit Protection Act.
It does not protect people who are single, divorced, widowed or have dissolved their civil partnerships. The Equality Act says you must not be discriminated against in employment because you are married or in a civil partnership.
What types of classifications are “suspect”? In light of the history of the Equal Protection Clause, it is no surprise that race and national origin are suspect classifications. But the Court has also held that gender, immigration status, and wedlock status at birth qualify as suspect classifications.
Race • Religion- Which covers all aspects of religious belief, observance, and practice, including religious dress and grooming. Color • National origin • Ancestry • Physical disability • Mental disability • Medical condition • Genetic information • Marital status • Sex.
Equal Employment Opportunity (EEO) is fair treatment in employment, promotion, training, and other personnel actions without regard to race, color, religion, sex, age, national origin, and physical or mental disability.
The Equal Credit Opportunity Act (ECOA) and its implementing regulations, referred to as Regulation B, ensure that creditors do not discriminate against any applicant on the basis of race, color, religion, national origin, sex, marital status, or age.
Imposing unfair terms or conditions on a loan (such as lower loan amount or higher interest rates) based on personal characteristics protected under the ECOA. Asking detailed personal information regarding marital status, such as whether you are widowed or divorced.
prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age, because an applicant receives income from a public assistance program, or because an applicant has in good faith exercised any right under the Consumer Credit Protection ...
The Equal Credit Opportunity Act (ECOA), which is implemented by Regulation B, applies to all creditors. When originally enacted, ECOA gave the Federal Reserve Board responsibility for prescribing the implementing regulation.
Look for red flags, such as: Treated differently in person than on the phone or online. Discouraged from applying for credit. Encouraged or told to apply for a type of loan that has less favorable terms (for example, a higher interest rate)
The ECOA also aims to prevent discrimination in credit transactions, but its protections do not extend to familial status and handicap/disability.
FEHA and other federal laws declare those characteristics of age and race to be protected, in order to safeguard the right of persons possessing these characteristics to fair employment. FEHA protected classes include sex, color, national origin and disability.
Negative Information Based on Discrimination
The FCRA prohibits the inclusion of negative information on the basis of race, color, national origin, sex, or religion. Any discriminatory reporting practices violate the law.
The protected classes include: age, ancestry, color, disability, ethnicity, gender, gender identity or expression, genetic information, HIV/AIDS status, military status, national origin, pregnancy, race, religion, sex, sexual orientation, or veteran status, or any other bases under the law.
Strict scrutiny is the highest standard of review that a court will use to evaluate the constitutionality of government action, the other two standards being intermediate scrutiny and the rational basis test .
The EEOC is responsible for protecting you from one type of discrimination - employment discrimination because of your race, color, religion, sex (including pregnancy, gender identity, and sexual orientation), national origin, disability, age (age 40 or older), or genetic information.