stampklion.blogg.se - Equal housing opportunity definition

National Association of Attorneys General. “ What Protections Do I Have Against Credit Discrimination?” " 12 CFR Part 1002 (Regulation B)."Ĭonsumer Financial Protection Bureau. " CFPB Consumer Laws and Regulations, ECOA."Ĭonsumer Financial Protection Board. What Can I do?"Ĭonsumer Financial Protection Board. " My Credit Application Was Denied Because of My Credit Report. " What Happens to Your Credit When You Get Married?"Ĭonsumer Financial Protection Board. " § 1002.13 Information for Monitoring Purposes."Ĭapital One. " Your Equal Credit Opportunity Rights."Ĭode of Federal Regulations. " Policy Statement on Discrimination in Lending."įederal Trade Commission. " Providing Equal Credit Opportunities (ECOA)."įederal Deposit Insurance Corporation. " What You Need to Know About the Equal Credit Opportunity Act and How It Can Help You: Why It Was Passed and What It Is."Ĭonsumer Financial Protection Bureau. United States Code. " 15 USC Chapter 41, Subchapter IV: Equal Credit Opportunity."Ĭonsumer Financial Protection Bureau. It prohibits creditors and lenders from considering factors that are unrelated to creditworthiness-specifically, the following protected classes: The act, as implemented by Regulation B, states that individuals applying for loans and other credit can be evaluated only using factors directly related to their creditworthiness. The Equal Credit Opportunity Act was enacted in 1974 and is detailed in Title 15 of the United States Code. How the Equal Credit Opportunity Act (ECOA) Works

The Consumer Financial Protection Bureau (CFPB) enforces ECOA for banks, savings associations, and credit unions holding more than $10 billion in assets.

The Department of Justice can file lawsuits under ECOA (and the Fair Housing Act, if the discrimination involves mortgages) where there is a pattern or practice of discrimination.

ECOA makes it illegal for lenders to discriminate based on race, color, religion, national origin, sex, marital status, age, the receipt of public assistance, and the applicant's exercise of specific consumer protection laws.

The Equal Credit Opportunity Act (ECOA) was signed into law in 1974 and prohibits lending discrimination in all aspects of a credit transaction.

HUD states in the Summary of its final 2015 rule on Affirmatively Furthering Fair Housing that “he Fair Housing Act not only prohibits discrimination but, in conjunction with other statutes, directs HUD’s program participants to take significant actions to overcome historic patterns of segregation, achieve truly balanced and integrated living patterns, promote fair housing choice, and foster inclusive communities.

Fostering and maintaining compliance with civil rights and fair housing laws.

Transforming racially and ethnically concentrated areas of poverty into areas of opportunity.

Replacing segregated living patterns with truly integrated and balanced living patterns.

AFFH means taking meaningful actions that address significant disparities in housing needs and in access to opportunity, including: What is Affirmatively Furthering Fair Housing (AFFH)?ĪFFH is a legal requirement that federal agencies and federal grantees further the purposes of the Fair Housing Act. (Source: National Fair Housing Alliance)Ĭlick here to view more information on your rights under the Fair Housing Act.

Fulfillment of the letter and spirit of the law means that every community can be a place of opportunity where people can live in diverse, inclusive, accessible neighborhoods with quality schools, healthy foods, meaningful jobs, health care, green spaces, quality credit, and the other opportunities that frame and affect our lives. Further restrictions may also be imposed by municipalities pursuant to local ordinance.įair housing is not just an important tool for eliminating discrimination it also helps to strengthen families, communities, businesses, and our overall economy. The Michigan Elliott-Larsen Civil Rights Act also prohibits housing discrimination based on age and marital status.

President Lyndon Johnson signed the bill into law on Apseven days after the assassination of Rev. *Familial status protects children under the age of 18 living with parent or guardian and pregnant women. Civil Rights Act, commonly known as the "Fair Housing Act," prohibits discrimination in the sale, rental, purchase, leasing, financing and/or advertising of housing based upon: