Equal Credit Opportunity Act: Your Right to Credit
Aside from prohibiting creditors to discriminate against the above-mentioned factors, you also have the right to know why you are denied credit, and you are entitled to have public assistance considered in the same manner as other income.
Companies Under the Equal Credit Opportunity Act
Basically, everyone that takes part in deciding who gets granted credit, are mandated by this act. These companies and individuals include credit card companies, banks, credit unions, financial institutions, retail stores, department stores, and even real estate brokers who handle financing. This law doesn’t stop at individual consumers, though. It also protects businesses applying for loans.
Latest Credit News
The banks are preparing to yet again toughen up their conditions for loans to small and medium-sized firms, the Financieele Dagblad reports on Thursday. The paper says half the banks have already made changes in the first three months of this year and more changes are on the way. The paper bases its claims on a survey by the Dutch central bank. Higher interest rates, smaller loans and tougher ..Thu, 23 May 2013 04:02:42 -0400 | Read More »
European credit markets are opening sharply lower on the back of an extremely volatile overnight session in Asia. As of 0645GMT according to Tradeweb, the iTraxx Main index is 4bp wider at 91.5bp having tightened to another new S19 and 3yr plus generic low of 87bp on the close yesterday. The Crossover index is 17bp wider at 386bp having traded down to the S19 low of 367bp last night, a level thatThu, 23 May 2013 03:40:01 -0400 | Read More »
Blog: Confessions of a Community College DeanSherman Dorn asked a great question earlier this week. In response to the growing wave of enthusiasm for “competency-based” degrees, as opposed to credit hour-based, he asked why we couldn’t achieve most of the good that “competency-based” would achieve just by dropping the “hours” from “credit hours.Wed, 22 May 2013 22:09:26 -0400 | Read More »
A proposed system to allow farmers and city wastewater plants to trade pollution credits with one another would likely improve water quality, but U.S. Sen. John Boozman of Arkansas on Wednesday warned that “a spirit of mistrust” between farmers and federal regulators would make such a system difficult to run.Thu, 23 May 2013 03:38:28 -0500 | Read More »
More People Are Considering Bad Credit Payday Loans as a Solution to Bad Economy According to Loans-Payday.com
DETROIT, May 23, 2013 /PRNewswire-iReach/ -- The number of people who have received a payday loan and have been extremely satisfied with the result of their purchase, has tripled in the past two years. Bad credit payday loans are especially designed for those who are in the need of urgent...Thu, 23 May 2013 05:30:00 EDT | Read More »