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Credit - the equal credit opportunity act

The Equal Credit Opportunity Act prohibits discrimination in a credit transaction. It does not, however, guarantee that you will get credit. According to the Act:

• Discrimination because of sex, marital status, race, national origin, religion or age is prohibited.
• Except for voluntary information needed to enforce the above anti-discrimination laws, a creditor cannot ask your race, sex, national origin or religion.
• A creditor may not request your marital status if the application is for individual, unsecured credit. Marital status may be requested in other instances.
• A creditor cannot ask whether you are divorced or widowed or about your plans for having children.
• A credit application must be accepted or denied within 30 days. If denied, the creditor must either state the specific reason for denial or tell you of your right to request that reason within 60 days.
• If otherwise credit worthy, a woman has the right to have a separate account in her maiden name.
• Where both spouses use or are liable on an account, credit information must be supplied in the names of both spouses.

For free brochures on the Equal Credit Opportunity Act,
call the Office of Consumer Protection at (800) 942-2669