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
Late Monday afternoon, on Oct. 20 Staples, the nation’s largest office supply retailer, reported that the company has asked law enforcement to help it investigate a "potential issue" involving credit card data at its stores. This...Fri, 24 Oct 2014 03:59:44 +0000 | Read More »
[Business Wire] - TPG Specialty Lending, Inc. announced today that it has favorably amended and extended its senior secured revolving credit facility with its bank group.Fri, 24 Oct 2014 11:00:00 GMT | Read More »