The Equal Credit Opportunity Act: An Evaluation
Open Access
- 1 March 1979
- journal article
- research article
- Published by SAGE Publications in Journal of Marketing
- Vol. 43 (2) , 95-104
- https://doi.org/10.1177/002224297904300210
Abstract
This article presents the results from an empirical study of the impact of the Equal Credit Opportunity Act (ECOA) on the consumer credit industry. The results indicate that the ECOA has not negatively affected the quality of credit decisions by prohibiting the use of the primary discriminators—age and marital status. However, the results also indicate that consumer credit companies would make considerably poorer credit decisions if the ECOA would be interpreted or amended to extend the prohibited bases of discrimination to include other secondary factors currently being used by companies in the industry.Keywords
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