EQUAL CREDIT - CIVIL RIGHTS
What is the Equal Credit Opportunity Act?
Under the Equal Credit Opportunity Act, a creditor may not discriminate on the basis of sex, race, color, religion, national origin, marital status, age, or source of income in any credit transaction.
The Department of Justice may file a lawsuit under ECOA where there is a pattern or practice of discrimination. In cases involving discrimination in home mortgage loans or home improvement loans, the Department may file suit under both the Fair Housing Act and ECOA. Individuals who believe that they have been the victims of any unfair credit transaction involving residential property may file a complaint with the Department of Housing and Urban Development [HUD] or may file their own lawsuit.
How does the Department of Justice enforce the Equal Credit Opportunity Act?
The Department of Justice may start a lawsuit where it has reason to believe that a creditor is engaged in a "pattern or practice" of discrimination. Through these lawsuits, the Department can obtain money damages, both actual and punitive damages, for those individuals harmed by a defendant's discriminatory actions as well as preventing further discrimination by the defendant. READ MORE
What do I do if I believe that I have been the victim of an unfair credit transaction involving residential property?
Individuals who believe that they have been victims of an illegal housing practice, such as the denial of a mortgage, that involved credit may file a complaint with the Department of Housing and Urban Development [HUD].
What is Title II of the Civil Rights Act of 1964?
This law prohibits discrimination because of a person's race, color, religion, or national origin in certain places of public accommodation, such as hotels, restaurants, and places of entertainment.
What do I do if I believe that I have been the victim of discrimination under Title II?
Individuals who believe that a place of public accommodation has violated Title II may file their own lawsuit in federal court. In addition, you may some rights under other federal laws, state laws, or local ordinances and should consult with your local or state civil rights enforcement agency.
Links
- Office of Thrift Supervision [OTS]: Savings associations and federally chartered savings banks (the word "Federal" or the initials "F.S.B." appear in federal institution's name).
- Comptroller of Currency [OCC]: National banks and federal branches / agencies of foreign banks.
- Federal Reserve Board [FRB]: Financial institutions that are members of the Federal Reserve System, except national banks and federal branches / agencies of foreign banks.
- Federal Deposit Insurance Corporation [FDIC]: State chartered banks that are not members of the Federal Reserve System.
- National Credit Union Association [NCUA]: Federal credit unions (the words "Federal credit union" appear in the institution's name).
- Federal Trade Commission: Retailers, finance companies, creditors (including most mortgage companies) that are not assigned to another agency.
