does ecoa apply to all creditors 
yes the equal credit opportunity act applies to all creditors financial institutions and other firms engaged in the extension of credit can t discriminate against an applicant based on a prohibited basis during any aspect of a credit transaction additionally lending officers and employees can t do anything that would on a prohibited basis discourage a reasonable person from applying for a loan 2513the bottom lineecoa is an important federal law promoting fair lending practices it bars lender discrimination and guards against bias related to race religion national origin gender marital status age public assistance eligibility or consumer protection rights ecoa has broad applicability covering various credit types and creditors consumers should be vigilant for signs of discrimination and can respond by contacting creditors state authorities government agencies or pursuing legal action ecoa enforcement involves multiple agencies including the cfpb and penalties for violations can be substantial ecoa s scope also extends to all creditors making sure everyone has a fair chance to get credit while stopping unfair treatment in credit transactions 