Archive for June 2015
Courts Split On Whether Guarantors Are “Applicants” Under Credit Opportunity Act
Rejecting a contrary Federal Reserve Board regulation and cases thereunder, the Eighth Circuit U.S.
Court of Appeals has held that it does not violate the Equal Credit Opportunity Act (15 U.S.C. § 1691 et seq.)
(ECOA) for a lender to require wives to guarantee debts of their husbands’ businesses.