Tag: Senate Committee on Banking Housing and Urban Affairs
Posted inEducation, National

Brown, Senate Democrats Press Upstart, Lenders for Answers Following Reports of Higher Interest Rates for Students of Minority-Serving Institutions

The Equal Credit Opportunity Act (ECOA) prohibits discrimination in any aspect of a credit transaction. Under the statute, lenders can be liable if they treat applicants differently based on a prohibited basis, such as race or national origin. In addition, lenders can also be liable if their practices have a disproportionate impact on a protected […]

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