Equal Credit Opportunity Act (ECOA - Pronounced ee)
A Federal statute that makes it illegal for creditors to discriminate in any aspect of a credit transaction on the basis of sex, marital status, age, race, national origin, color, religion, receipt of public assistance, or the exercise of rights under the Consumer Protection Act. The Federal Reserve Board of Governors has adopted Regulation B to implement this statute. American Banker Glossary

Financial and business terms. 2012.

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