FTC Staff Provides Annual Letter to CFPB on Equal Credit Opportunity Act Activities

The staff of the Federal Trade Commission has provided an annual summary to the Consumer Financial Protection Bureau on the FTC’s activities related to the enforcement of the Equal Credit Opportunity Act, or ECOA.

The FTC is responsible for ECOA enforcement and education related to most non-bank financial service providers. In the letter to the CFPB, staff details the Commission’s work on a number of policy issues related to ECOA, including issues addressed in FTC workshops as well as a proposed  consumer survey to learn about experiences with automobile dealership financing. In addition, the letter outlines the Commission’s business and consumer education efforts related to fair lending issues.

A copy of the letter also has been provided to the Federal Reserve Board.

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