Regulation B – Equal Credit Opportunity Act (ECOA) Policy – 13 Pages – 2900 Words

The policy is designed to ensure compliance with the Equal Credit Opportunity Act (ECOA), aiming to prevent discrimination in credit transactions and promote fairness in the credit process. It applies to all personnel and third parties involved in credit transactions on behalf of the company, emphasizing equal access to credit opportunities regardless of race, color, religion, national origin, sex, marital status, age, or public assistance income. The policy outlines requirements for notification, record retention, self-testing, use of credit scoring systems, consideration of public assistance and age, and addresses prohibited discrimination practices in various aspects of credit transactions.