Equal Credit Opportunity Act and RESPA Pass After Industry Lobbying Weakens Enforcement
Congress passes two major housing consumer protection laws in 1974: the Equal Credit Opportunity Act (ECOA) prohibiting discrimination in lending based on sex and marital status (race added in 1976), and the Real Estate Settlement Procedures Act (RESPA) requiring disclosure of closing costs. …
U.S. Congress
President Gerald Ford
American Bankers Association
Mortgage Bankers Association
Federal Reserve
fair-lending
consumer-protection
housing-policy
industry-lobbying
housing
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