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
Joanne Smith was clearly the victim of mistaken identity, but she struggled to force the lender and the credit agency to fix their errorsFri, 31 Oct 2014 08:30:01 GMT | Read More »
Voluntary agreement includes cutting rates charged to merchants, capping feesFri, 31 Oct 2014 05:51:34 -0400 | Read More »
[PR Newswire] - ST. LOUIS, Oct. 30, 2014 /PRNewswire/ -- Centene Corporation (NYSE: CNC) announced today it will present at the Credit Suisse 2014 Healthcare Conference, to be held from November 10-13, 2014, at the Arizona ...Thu, 30 Oct 2014 20:27:00 GMT | Read More »
There has been a bit of glee locally that Universal Credit is running into trouble. One pundit even advised local parties to ignore it until we see how things work out in Britain after the next election. That would be a mistake.Thu, 30 Oct 2014 11:00:00 GMT | Read More »