How does the Department of Justice enforce the Equal Credit Opportunity Act?
The Department of Justice may start a lawsuit where it has reason to believe that a creditor is engaged in a “pattern or practice” of discrimination. Through these lawsuits, the Department can obtain money damages, both actual and punitive damages, for those individuals harmed by a defendant’s discriminatory actions as well as preventing further discrimination by the defendant. If you have information that suggests a pattern or practice of discrimination in credit, please contact us. Individual complaints of discrimination are handled by the creditor’s federal regulatory agency. The agencies and the types of financial institutions that they regulate are as follows: Office of Thrift Supervision [OTS]: Savings associations and federally chartered savings banks (the word “Federal” or the initials “F.S.B.” appear in federal institution’s name). Comptroller of Currency [OCC]: National banks, federal branches/agencies of foreign banks (the word “National” or the initials “N.A.” appear in or
