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 City of Detroit owns or controls the fate of vacant and blighted properties that could be worth as much as $1.2 billion, according to a holdout financial creditor that is fighting the city's bankruptcy restructuring plan.Mon, 28 Jul 2014 08:48:00 -0400 | Read More »
[Business Wire] - NCR Corporation , the global leader in consumer transaction technologies, is piloting a dynamic branch transformation solution with San Antonio Federal Credit Union (SACUMon, 28 Jul 2014 12:00:00 GMT | Read More »
Morningstar Credit Ratings Assigns Preliminary Ratings for Invitation Homes 2014-SFR2 (IH 2014-SFR2)
NEW YORK, July 28, 2014 /PRNewswire/ -- Morningstar Credit Ratings, LLC today assigned preliminary ratings to six classes of single-family rental pass-through certificates from Invitation Homes 2014-SFR2 (IH 2014-SFR2), a single-family rental securitization. The preliminary ratings...Mon, 28 Jul 2014 11:00:00 EDT | Read More »