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The Federal Equal Credit Opportunity Act prohibits creditors from
discriminating against credit applicants on the 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.
Lending institutions are prohibited from bringing up, in the taking
of applications for loans, certain specific subjects which lend
themselves to discrimination. They are as follows:
- Whether or not you have or will have children. (Although inquiring
as to the number and age of dependents is proper).
- Whether or not there exist child care problems.
- Whether or not there will be interruptions of income due to
children.
- Whether or not you are receiving alimony, child support or separate
maintenance. (Unless voluntarily disclosed as a source of additional
income which you wish to be considered).
- Whether you are widowed, divorced, or single. (Allowable designations
are: married, unmarried, separated).
- Whether or not your telephone number is listed.
Lending institutions must take and report action on your application
"within a reasonable time." If the application is denied,
reasons MUST be given if requested.
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