Page:United States Statutes at Large Volume 90 Part 1.djvu/301

 PUBLIC LAW 94-239—MAR. 23, 1976

90 STAT. 251

Public Law 94-239 94th Congress An Act To amend title VII of the (Consumer Credit Protection Act to include discrimination on the basis of race, color, religion, national origin, and age, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That (a) this Act may be cited as the "Equal Credit Opportunity Act Amendments of 1976". (b) Title VII of the Consumer Credit Protection Act is amended by adding at the end thereof the following new section: «§ 709. Short title "This title may be cited as the 'Equal Credit Opportunity Act'." (c) Section 501 of Public Law 93-4:95 is repealed. SEC. 2. Section 701 of the Equal Credit Opportunity Act is amended to read as follows: "§ 701. Prohibited discrimination; reasons for adverse action "(a) It shall be unlawful for any creditor to discriminate against any applicant, with respect to any aspect of a credit transaction— "(1) on the basis of race, color, religion, national origin, sex or marital status, or age (provided the applicant has the capacity to contract); "(2) because all or part of the applicant's income derives from any public assistance program; or "(3) because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. "(b) It shall not constitute discrimination for purposes of this title for a creditor— "(1) to make an inquiry of marital status if such inquiry is for the purpose of ascertaining the creditor's rights and remedies applicable to the particular extension of credit and not to discriminate in a determination of credit-worthiness; "(2) to make an inquiry of the applicant's age or of whether the applicant's income derives from any public assistance program if such inquiry is for the purpose of determining the amount and probable continuance of income levels, credit history, or other pertinent element of credit-worthiness as provided in regulations of the Board; "(3) to use any empirically derived credit system which considers age if such system is demonstrably and statistically sound in accordance with regulations of the Board, except that in the operation of such system the age of an elderly applicant may not be assigned a negative factor or value; or "(4) to make an inquiry or to consider the age of an elderly applicant when the age of such applicant is to be used by the creditor in the extension of credit in favor of such applicant. "(c) It is not a violation of this section for a creditor to refuse to extend credit offered pursuant to— " (1) any credit assistance program expressly authorized by law for an economically disadvantaged class of persons;

Mar. 23, 1976 [H.R. 6516]

Equal Credit Opportunity Act Amendments of 1976. 15 USC 1691 note. Equal Credit Opportunity Act.

15 USC 1691 note. Repeal. 15 USC 1691 note. 15 USC 1691.

15 USC 1601 note.

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