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Terms that begin with E

Equal Credit Opportunity Act (ECOA)

The Equal Credit Opportunity Act (ECOA) was established as a law in 1974 in the United States, this law prohibits creditors from discriminating on the basis of sex, race, marital status, religion, national origin, age, or receipt of public assistance when deciding whether to issue credit.

Failure to comply with the Equal Credit Opportunity Act's Regulation B can result in civil liability to a financial institution. The financial liability as much as $10,000 in individual actions and $500,000 or 1 percent of the creditor’s net worth in class actions, whichever is the lesser.

Previous Credit Card Term: Electronic Fund Transfer Act (EFTA)

Next Credit Card Term: Equifax

* See the online credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the "Apply Here" button, you can review the credit card terms and conditions on issuers website.