Which agency enforces the Equal Credit Opportunity Act (ECOA)?

• A. CFPB
• B. FTC
• C. FDIC
• D. HUD

Answer: (A)

The ability to enforce ECOA lies primarily with the Consumer Financial Protection Bureau, which acts as the main federal regulator for fair lending in consumer credit. ECOA protects applicants from discrimination in any aspect of a credit transaction, and the CFPB oversees many lenders—banks, nonbanks, and mortgage providers alike—to ensure compliance with this law. It can investigate complaints, require corrective actions, and impose penalties for discriminatory practices.

Other regulators also enforce ECOA in their spheres—such as the FTC for certain nonbank lenders and the FDIC/other banking regulators for insured institutions—while HUD handles Fair Housing Act enforcement, which covers housing discrimination that isn’t limited to credit. In the context of typical consumer lending oversight, the CFPB is the primary enforcement authority.