WASHINGTON (Legal Newsline) – The Federal Trade Commission staff put together an annual summary on the enforcement of the Equal Credit Opportunity Act and delivered it to the Consumer Financial Protection Bureau.
The FTC enforces the ECOA for most non-bank financial service providers and educates the public on its rules. FTC staff detailed work in the letter on a number of policy issues related to the ECOA. Some issues addressed include FTC workshops and a proposed consumer survey to learn about experiences with automobile dealership financing.
The letter also outlines the FTC’s business and consumer education efforts as it relates to fair lending issues.
The FTC also provided the document to the Federal Reserve Board.