The ECOA protects consumers who deal with companies that regularly extend credit, including banks, small loan and finance companies, retail and department stores, credit card companies and credit unions. Everyone who participates in the decision to grant credit, including real estate brokers who arrange financing, must follow this law. Businesses applying for credit are also protected by this law.
Your rights under the Equal Credit Opportunity Act include:
Your rights under the Fair Credit Reporting Act include the right to:
If you contest the completeness or accuracy of information in your credit report, you should file a dispute with the credit reporting agency and with the company that furnished the information to the credit reporting agency.
Your rights under the Fair Debt Collection Practices Act include:
The FCBA generally applies only to "open end" credit accounts - credit cards, revolving charge accounts (such as department store accounts) and overdraft checking accounts.
The FCBA doesn't apply to loans or credit sales that are paid according to a fixed schedule until the entire amount is paid back, such as an automobile loan.
The EFTA applies to electronic fund transfers, such as those involving automatic teller machines (ATMs), point-of-sale debit transactions and other electronic banking transactions.