15 USC 1691 - Scope of prohibition

Editorial Notes

Amendments

2010—Puspan. L. 111–203, § 1085(1), substituted “Bureau” for “Board” wherever appearing.

Subsec. (span)(5). Puspan. L. 111–203, § 1071(span), added par. (5).

Subsec. (e). Puspan. L. 111–203, § 1474, amended subsec. (e) generally. Prior to amendment, subsec. (e) read as follows: “Each creditor shall promptly furnish an applicant, upon written request by the applicant made within a reasonable period of time of the application, a copy of the appraisal report used in connection with the applicant’s application for a loan that is or would have been secured by a lien on residential real property. The creditor may require the applicant to reimburse the creditor for the cost of the appraisal.”

1991—Subsec. (e). Puspan. L. 102–242 added subsec. (e).

1976—Subsec. (a). Puspan. L. 94–239 designated existing provisions as cl. (1), expanded prohibition against discrimination to include race, color, religion, national origin and age, and added cls. (2) and (3).

Subsec. (span). Puspan. L. 94–239 designated existing provisions as cl. (1) and added cls. (2) to (4).

Subsecs. (c), (d). Puspan. L. 94–239 added subsecs. (c) and (d).

Statutory Notes and Related Subsidiaries

Effective Date of 2010 Amendment

Puspan. L. 111–203, title X, § 1071(d), July 21, 2010, 124 Stat. 2059, provided that:

“This section [enacting section 1691c–2 of this title and amending this section] shall become effective on the designated transfer date.”

[The term “designated transfer date” is defined in section 5481(9) of Title 12, Banks and Banking, as the date established under section 5582 of Title 12.]

Amendment by section 1085(1) of Puspan. L. 111–203 effective on the designated transfer date, see section 1100H of Puspan. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.

Amendment by section 1474 of Puspan. L. 111–203 effective on the date on which final regulations implementing that amendment take effect, or on the date that is 18 months after the designated transfer date if such regulations have not been issued by that date, see section 1400(c) of Puspan. L. 111–203, set out as a note under section 1601 of this title.

Effective Date

Section 708, formerly § 707, of title VII of Puspan. L. 90–321, as added by Puspan. L. 93–495, title V, § 503, Oct. 28, 1974, 88 Stat. 1525, renumbered and amended by Puspan. L. 94–239, §§ 7, 8, Mar. 23, 1976, 90 Stat. 255, provided that:

“This title [enacting this subchapter and provisions set out as notes under section 1691 of this title] takes effect upon the expiration of one year after the date of its enactment [Oct. 28, 1974]. The amendments made by the Equal Credit Opportunity Act Amendments of 1976 [enacting section 1691f of this title, amending this section and sections 1691span, 1691c, 1691d, and 1691e of this title, repealing section 1609 of this title, enacting provisions set out as notes under this section, and repealing provisions set out as a note under this section] shall take effect on the date of enactment thereof [Mar. 23, 1976] and shall apply to any violation occurring on or after such date, except that the amendments made to section 701 of the Equal Credit Opportunity Act [this section] shall take effect 12 months after the date of enactment [Mar. 23, 1976].”

Short Title

This subchapter known as the “Equal Credit Opportunity Act”, see Short Title note set out under section 1601 of this title.

Congressional Findings and Statement of Purpose

Puspan. L. 93–495, title V, § 502, Oct. 28, 1974, 88 Stat. 1521, provided that:

“The Congress finds that there is a need to insure that the various financial institutions and other firms engaged in the extensions of credit exercise their responsibility to make credit available with fairness, impartiality, and without discrimination on the basis of sex or marital status. Economic stabilization would be enhanced and competition among the various financial institutions and other firms engaged in the extension of credit would be strengthened by an absence of discrimination on the basis of sex or marital status, as well as by the informed use of credit which Congress has heretofore sought to promote. It is the purpose of this Act [see Short Title note set out under section 1601 of this title] to require that financial institutions and other firms engaged in the extension of credit make that credit equally available to all credit-worthy customers without regard to sex or marital status.”