Notes on 15 U.S.C. § 1691 : US Code - Notes

Search Notes on 15 U.S.C. § 1691 : US Code - Notes

(Pub. L. 90-321, title VII, Sec. 701, as added Pub. L. 93-495,
title V, Sec. 503, Oct. 28, 1974, 88 Stat. 1521; amended Pub. L. 94-
239, Sec. 2, Mar. 23, 1976, 90 Stat. 251; Pub. L. 102-242, title
II, Sec. 223(d), Dec. 19, 1991, 105 Stat. 2306.)
AMENDMENTS
1991 - Subsec. (e). Pub. L. 102-242 added subsec. (e).
1976 - Subsec. (a). Pub. L. 94-239 designated existing provisions
as cl. (1), expanded prohibition against discrimination to include
race, color, religion, national origin and age, and added cls. (2)
and (3).
Subsec. (b). Pub. L. 94-239 designated existing provisions as cl.
(1) and added cls. (2) to (4).
Subsecs. (c), (d). Pub. L. 94-239 added subsecs. (c) and (d).
EFFECTIVE DATE
Section 708, formerly Sec. 707, of title VII of Pub. L. 90-321,
as added by Pub. L. 93-495, title V, Sec. 503, Oct. 28, 1974, 88
Stat. 1525, renumbered and amended by Pub. L. 94-239, Secs. 7, 8,
Mar. 23, 1976, 90 Stat. 255, provided that: "This title [enacting
this subchapter and provisions set out as notes under section 1691
of this title] takes effect upon the expiration of one year after
the date of its enactment [Oct. 28, 1974]. The amendments made by
the Equal Credit Opportunity Act Amendments of 1976 [enacting
section 1691f of this title, amending this section and sections
1691b, 1691c, 1691d, and 1691e of this title, repealing section
1609 of this title, enacting provisions set out as notes under this
section, and repealing provisions set out as a note under this
section] shall take effect on the date of enactment thereof [Mar.
23, 1976] and shall apply to any violation occurring on or after
such date, except that the amendments made to section 701 of the
Equal Credit Opportunity Act [this section] shall take effect 12
months after the date of enactment [Mar. 23, 1976]."
SHORT TITLE
This subchapter known as the "Equal Credit Opportunity Act", see
Short Title note set out under section 1601 of this title.
CONGRESSIONAL FINDINGS AND STATEMENT OF PURPOSE
Section 502 of Pub. L. 93-495 provided that: "The Congress finds
that there is a need to insure that the various financial
institutions and other firms engaged in the extensions of credit
exercise their responsibility to make credit available with
fairness, impartiality, and without discrimination on the basis of
sex or marital status. Economic stabilization would be enhanced and
competition among the various financial institutions and other
firms engaged in the extension of credit would be strengthened by
an absence of discrimination on the basis of sex or marital status,
as well as by the informed use of credit which Congress has
heretofore sought to promote. It is the purpose of this Act [see
Short Title note set out under section 1601 of this title] to
require that financial institutions and other firms engaged in the
extension of credit make that credit equally available to all
credit-worthy customers without regard to sex or marital status."
(!1) So in original. Probably should not be hyphenated.