[SS Fed] Equal Credit Opportunity Act
Course Description
In 1974, Congress enacted the Equal Credit Opportunity Act (ECOA) to eliminate discriminatory treatment of credit applicants. The primary reason for the enactment of ECOA was anecdotal evidence that women were not treated on an equal basis with men when applying for credit. ECOA and its regulations, known as Regulation B, are intended to promote the availability of credit to all creditworthy applicants regardless of gender, race, color, religion, national origin, marital status, age, and regardless of the fact that the applicant receives income from a public assistance program or has exercised his or her rights under the Consumer Credit Protection Act.
This course provides an overview of ECOA, including important definitions, information related to required disclosures, and prohibited lending practices.
30 Minutes
Series: Mortgage Lending
Roles: Mortgage Professionals, Operations & IT
Course Format: Online Self-Paced
Package: Breakthrough
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