Illegal disparate therapy does occur whenever a loan provider bases its financing choice using one or maybe more associated with the discriminatory that is prohibited covered by the fair financing rules. For instance, if lender provides a credit card by having a limitation of $750 for candidates age 21 through 30 and $1,500 for applicants over age 30. This policy violates the ECOA’s prohibition on discrimination according to age.
Fair lending legislation additionally contain conditions to handle lending that is predatory. A few examples follow: