As most lenders know, the Equal Credit Opportunity Act prohibits discrimination on the basis of race, color, religion, national origin, sex, marital status, or age…. We find that most lenders understand the big picture and know it’s illegal to discriminate based on these factors, but sometimes when they get in the routine of the day-to-day, they can unknowingly overlook some of the finer details and potentially discriminate in ways that may not be as obvious.
Jerod explains more in the video.
Video Highlights:
- Lenders must comply with the Equal Credit Opportunity Act, which prohibits discrimination on the basis of race, color, religion, national origin, sex, marital status, or age.
- Most lenders understand the concept but may overlook finer details in day-to-day operations.
Published
2023/07/24
