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FTC Summarizes ECOA Enforcement Activities

The FTC summarized its enforcement-related activities concerning the Equal Credit Opportunity Act ("ECOA"). The FTC letter was a response to a request by the CFPB which intends to use the information in preparing the CFPB's 2021 Annual Report to Congress.

In the report, the FTC highlighted:

  • the different ways that consumer problems affect communities of color;

  • the continued support of military consumers;

  • participation as a member in the Interagency Task Force on Fair Lending to share information and discuss policy issues; and

  • participation as a member in the Interagency Fair Lending Methodologies Working Group to show information on the methods used in the enforcement of and supervision for compliance with fair lending laws, including the ECOA.

Primary Sources

  1. FTC Press Release: FTC Staff Provides Annual Letter to CFPB on 2021 Equal Credit Opportunity Act Activities
  2. FTC Report to CFPB: Equal Credit Opportunity Act in 2021

Tags

Regulated Activities
Diversity / Discrimination
Sub-Activity
Equal Credit (ECOA) / Fair Lending
Body of Law
Commerce
Jurisdiction
US - Federal
Organization
Other Author Organizations
Sub-Author
FTC