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Simple English definitions for legal terms

Equal Credit Opportunity Act

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A quick definition of Equal Credit Opportunity Act:

The Equal Credit Opportunity Act is a law that says lenders cannot treat people unfairly when they apply for credit. They cannot say no to someone because of their race, color, religion, national origin, age, sex, or marital status. This law applies to all parts of the credit process.

A more thorough explanation:

The Equal Credit Opportunity Act (ECOA) is a federal law that prohibits creditors from discriminating against credit applicants based on certain characteristics. These characteristics include:

For example, a creditor cannot deny someone a loan simply because they are a certain race or religion. They also cannot charge someone a higher interest rate based on their age or sex.

The ECOA applies to all aspects of a credit transaction, including:

  • Applying for credit
  • Qualifying for credit
  • Setting the terms of credit
  • Collecting on a debt

The purpose of the ECOA is to ensure that all individuals have equal access to credit and are not unfairly discriminated against based on certain characteristics.

equal and uniform taxation | equal degree

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oh no
HopefullyInLawSchool
14:19
you mom
WorthlessAttractiveZombie
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Ouch
HopefullyInLawSchool
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your*
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I fear I realized too late
babycat
14:20
another victim claimed
concorde
14:22
pwned
14:22
Might have to send in addendums for that
Dkk
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No wave, so sad.
WorthlessAttractiveZombie
14:28
What are the odds that berk releases later today?
babycat
14:28
@Dkk: And here I thought you were a prophet. Smh.
14:33
@WorthlessAttractiveZombie: 4
WorthlessAttractiveZombie
14:35
@EvolBunny: I will take the odds of 4, very promising
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I'm too drunk to taste this chicken
Dkk
14:38
Lol, I suck I guess. @babycat
14:40
suck what? (:
Dkk
14:42
suck at predicting
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boooooo
1a2b3c4d26z
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hi guys
1a2b3c4d26z
14:45
how is everyone doing this fine friday
1a2b3c4d26z
14:46
Tonight im going to go for a run and lift some weights and then eat some dinner (probably a burrito) and then I'm going to watch a scary movie with my girlfriend (probably Longlegs). I'm so excited :)
1a2b3c4d26z
14:46
What is everyone else doing tonight
1a2b3c4d26z
14:47
Besides YM of course
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Yoooo I’m a lifter too
14:47
I'm all good, I'm tipsy in Zanzibar finishing an app and laughing my ass off to this:
babycat
14:48
renard what are you drinking?
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