![]() if your spouse will be allowed to use the account.Ask for information about your spouse, except:.A creditor in any state may ask for this information if you apply for a joint account or one secured by property. A creditor may ask you to provide this information if you live in “community property” states: Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin. Ask about your marital status if you’re applying for a separate, unsecured account.A creditor may use only the terms: married, unmarried, or separated. Impose different terms or conditions, like a higher interest rate or higher fees, on a loan based on your race, color, religion, national origin, sex, marital status, age, or because you receive public assistance.A creditor may consider your immigration status and whether you have the right to stay in the country long enough to repay the debt. It helps federal agencies enforce anti-discrimination laws. Consider your race, sex, or national origin, although you may be asked to disclose this information if you want to.Discourage you from applying or reject your application because of your race, color, religion, national origin, sex, marital status, age, or because you receive public assistance. ![]() When you apply for credit, creditors may not: Everyone who participates in the decision to grant credit or in setting the terms of that credit, including real estate brokers who arrange financing, must comply with the Equal Credit Opportunity Act (ECOA). ![]() The law provides protections when you deal with any organizations or people who regularly extend credit, including banks, small loan and finance companies, retail and department stores, credit card companies, and credit unions. While creditors may ask you for most of this information in certain situations, they may not use it when deciding whether to give you credit or when setting the terms of your credit. People apply for and use credit every day in the United States to pay for an education, a house, an automobile or recreational vehicle, a remodeling job or a car, to finance a loan to keep their business operating, or a host of other reasons.Ī Federal Law known as the Equal Credit Opportunity Act (ECOA) protects individuals and groups from unlawful credit discrimination on the basis of race, color, religion, national origin, sex, marital status, age, or because you get public assistance. ![]()
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