The Equal Credit Opportunity Act (ECOA) is a federal law that prohibits discrimination in credit transactions on the basis of race, color, religion, national origin, sex, marital status, age, or the receipt of public assistance. The ECOA applies to all types of credit, including mortgages, loans, and credit cards, and it requires creditors to provide equal access to credit and to treat all applicants fairly. The ECOA also requires creditors to disclose the reasons for any adverse action, such as the denial of a loan application, and to provide information about the rights and remedies available to consumers who believe that they have been subjected to discrimination.
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