Which agency enforces ECOA?

Which agency enforces ECOA?

• A. Consumer Financial Protection Bureau (CFPB)
• B. Federal Reserve
• C. Department of Justice
• D. Federal Trade Commission

Answer: (A)

ECOA is enforced by the Consumer Financial Protection Bureau. This statute bars discrimination in granting credit based on protected characteristics, and the CFPB oversees compliance and enforcement for most creditors under Regulation B, reflecting its broad consumer-protection mandate after Dodd-Frank. While other agencies—such as the Federal Reserve, DOJ, or FTC—may have enforcement roles in specific contexts or for certain institutions, the CFPB is the primary federal enforcement authority tied most directly to ECOA in typical exam contexts.

ECOA is enforced by the Consumer Financial Protection Bureau. This statute bars discrimination in granting credit based on protected characteristics, and the CFPB oversees compliance and enforcement for most creditors under Regulation B, reflecting its broad consumer-protection mandate after Dodd-Frank. While other agencies—such as the Federal Reserve, DOJ, or FTC—may have enforcement roles in specific contexts or for certain institutions, the CFPB is the primary federal enforcement authority tied most directly to ECOA in typical exam contexts.