The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract); because all or part of the applicant’s income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act.

Federal Agency: Federal Trade Commission, Equal Credit Opportunity, Washington, DC 20580

Alimony, child support, or separate maintenance income need not be revealed if you do not wish to have it considered as a basis for credit reporting. In the event adverse action is taken on the application for credit, the applicant Borrower has a right to a statement of specific reasons for such adverse action within 30 days of request, if the request is made within 60 days of notification of the adverse action.

Written explanations available from: