Equal Credit Opportunity Act

Courtney and Megan

What is it and when was it passed?

United States law made in 1974 that makes it unlawful for any creditor to discriminate against any applicant on the bases of race, color, religion, national origin, sex, marital status, or age.

What happened before the act was passed?

Creditors were able to discriminate applicants due to their personal beliefs.

Who does it affect?

Everyone is affected by this act because everyone has equal opportunity to apply for credit cards. It also guarantees equal opportunity to all customers of credit card companies, banks, loan and finance companies, retail stores, and credit unions.


Creditors cannot ask you for your sex, race, national origin, marital status, if you are or have received support payments, or have received public assistance,

Was there a specific incident that led to this act?

The answer is, no; people filed complaints for many years, and nothing was done until 1973 when they began to write the act. The act was then finished in 1974.