Pride Month is celebrated each June to commemorate the 1969 Stonewall Uprising and efforts to advance equal justice and equal opportunity, including fair lending, for LGBTQ+ individuals.

Learn more about important fair lending laws and how they protect LGBTQ and other individuals from credit discrimination.

What Fair Lending Laws Offer Protection Against Credit Discrimination?

Equal Credit Opportunity Act

The Equal Credit Opportunity Act (ECOA) makes it illegal for a creditor to discriminate in any aspect of a credit transaction.

The ECOA prohibits discrimination based on:

  • Sex (including sexual orientation and gender identity)
  • Race or color
  • Religion
  • National origin
  • Marital status
  • Age
  • The receipt of income from public assistance
  • Exercising, in good faith, of any right under the Consumer Credit Protection Act.

Fair Housing Act

The Fair Housing Act prohibits discrimination in all aspects of “residential real-estate related transactions,” including:

  • Making loans to buy, build, repair, or improve a home
  • Purchasing real estate loans
  • Selling, brokering, or appraising residential real estate
  • Selling or renting a home.

Under the Fair Housing Act it is illegal to discriminate based on:

  • Sex, including sexual orientation or gender identity
  • Race or color
  • National origin
  • Religion
  • Familial status, including children under the age of 18 living with a parent or legal custodian, pregnant women, and people securing custody of children under 18
  • Disability

How Can I Protect Myself From Credit Discrimination?

Credit discrimination is not always obvious. The following are some red flags that the CFPB says to look for:

  • Encouraged or told to apply for a type of loan that has less favorable terms (for example, a higher interest rate)
  • Lender made negative comments about race, national origin, age, sex (including sexual orientation or gender identity), or other protected statuses
  • Refused credit even though you qualify for it based on advertised requirements
  • Offered credit with a higher rate than you applied for, even though you qualify for a lower rate based on advertised requirements

How Can I Report Credit Discrimination?

If you have experienced credit discrimination, you can do something about it.

You may submit a complaint against your credit union by contacting the NCUA’s Consumer Assistance Center or call 800.755.1030. You may also contact the Consumer Financial Protection Bureau at https://www.consumerfinance.gov/complaint/ or call 1.855.411.2372.

The U.S. Department of Housing and Urban Development administers the Fair Housing Act that makes it illegal to discriminate in a residential related real estate transaction. You may file a fair housing complaint directly with HUD's Office of Fair Housing and Equal Opportunity, online at www.hud.gov/program_offices/fair_housing_equal_opp/online-complaint or by calling 1.800.669.9777.

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