(a) Authority and scope. This regulation is issued by the Board of Governors of the Federal Reserve System pursuant to title VII (Equal Credit Opportunity Act) of the Consumer Credit Protection Act, as amended (15 U.S.C. 1601 et seq.). Except as otherwise provided herein, this regulation applies to all persons who are creditors, as defined in § 202.2(1). Information collection requirements contained in this regulation have been approved by the Office of Management and Budget under the provisions of 44 U.S.C. 3501 et seq. and have been assigned OMB No. 7100-0201.
(b) Purpose. The purpose of this regulation is to promote the availability of credit to all creditworthy applicants without regard to race, color, religion, national origin, sex, marital status, or age (provided the applicant has the capacity to contract); to the fact that all or part of the applicant's income derives from a public assistance program; or to the fact that the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The regulation prohibits creditor practices that discriminate on the basis of any of these factors. The regulation also requires creditors to notify applicants of action taken on their applications; to report credit history in the names of both spouses on an account; to retain records of credit applications; to collect information about the applicant's race and other personal characteristics in applications for certain dwelling-related loans; and to provide applicants with copies of appraisal reports used in connection with credit transactions.
Notes of Decisions
Tina Alexander v. Ameripro Funding, Incorpo, 848 F.3d 698 (5th Cir. 2017).
“” See 12 C.F.R. § 202.1 . The ECOA specifically makes it illegal “for any creditor to discriminate against any applicant, with respect to any aspect of a credit transaction .”
Patsy Anderson v. United Fin. Co., 666 F.2d 1274 (9th Cir. 1982).
· cites it 2× “(1976), and its implementing regulations, Regulation B, 12 C.F.R. § 202.1 et seq. (1979) (replaced by 12 C.”
Regions Bank v. Legal Outsource PA, 936 F.3d 1184 (11th Cir. 2019).
“12 C.F.R. § 202.1 (b) (stating that the purpose of Regulation B is “to promote the availability of credit to all creditworthy applicants without regard to .”
Zollman v. Geneva Leasing Assocs., Inc., 780 N.E.2d 387 (Ind. Ct. App. 2002).
· cites it 2× “("ECOA"), and its implementing regulations, 12 C.F.R. § 202.1 et seq., a commercial lender is prohibited from requiring a spousal guaranty on a note when the applicant individually qualifies for the loan.”
Jones v. Rosenberg, 940 A.2d 1109 (Md. Ct. Spec. App. 2008).
“Violation Equal Credit Opportunity Act Codified to 12 C. F.R. § 202.1 The Court reserves the right to condition rescission If there are two or more homeowners who are borrowers, each one must receive two copies of this notice.”
Bank of the West v. Kline, 782 N.W.2d 453 (Iowa 2010).
“See 12 C.F.R. §§ 202.1 -.16 (2004). In 1986, the Board amended the definition of “applicant” under Regulation B to provide: Applicant means any person who requests or who has received an extension of credit from a creditor, and includes any person who is or may become…”
Diaz v. Paragon Motors of Woodside, Inc., 424 F. Supp. 2d 519 (E.D.N.Y 2006).
“12 C.F.R. § 202.1 (1). As Paragon has not disputed its creditor status for ECOA purposes, and as all the evidence suggests Paragon is indeed a creditor, Paragon is treated as a creditor for purposes of this motion.”
Spottiswoode v. Levine, 1999 ME 79 (Me. 1999).
“See 12 C.F.R. § 202.1 (a) (1999). Regulation B states, in pertinent part: "a creditor shall not require the signature of an applicant’s spouse or other person, other than a joint applicant, on any credit instrument if the applicant qualifies under the creditor’s standards of…”
— 12 C.F.R. § 202.1(a) — 1 case
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