ECOA is a law that ensures which of the following?

The correct answer focuses on the core purpose of the Equal Credit Opportunity Act (ECOA), which is to ensure that lenders provide credit fairly and without discrimination. Enacted to promote equal access to credit, ECOA prohibits discrimination based on race, color, religion, national origin, sex, marital status, age, or because a recipient has exercised any right under the Consumer Credit Protection Act. This means that all applicants should have an equal opportunity to receive credit and that lenders should make their lending decisions based on objective criteria rather than on irrelevant personal characteristics.

By promoting fairness in lending, ECOA aims to level the playing field for consumers seeking credit, ensuring that they are evaluated based on their creditworthiness rather than biases. This fundamental principle of non-discrimination is central to understanding the potential impact of ECOA on lending practices and consumers' rights in the financial marketplace.