Equal Credit Opportunity Act (ECOA)

This Act (Title VII of the Consumer Credit Protection Act) forbids discrimination based on race, color, religion, national origin, gender, marital status, age, receipt of public assistance, or good faith use of any Consumer Credit Protection Act rights. The Act also mandates creditors to furnish applicants with the reasons for credit denials upon request. The Dodd-Frank Act required that creditors give applicants a copy of all appraisals and other documented valuations utilized with the applicant's application for first-lien loans secured by a residence.