Prohibited Basis

Credit practices that are contrary to the nondiscrimination guidelines contained in the Equal Credit Opportunity Act. The act makes it illegal to approve consumer credit applications in a manner that denies creditworthy applicants access to credit on the basis of race, sex, national origin, age, marital status, or dependence on public assistance. Consumers who assert their rights under the Consumer Credit Protection Act also are protected by the statute. See also Effects Test; Regulation B.