The Federal Trade Commission enforces the Equal Credit Opportunity Act, which prohibits credit discrimination on various bases. Which agency is responsible?

• A. The Federal Trade Commission
• B. The Department of Housing and Urban Development
• C. The Equal Employment Opportunity Commission
• D. The Federal Reserve

Answer: (A)

Credit discrimination in lending is prohibited by the Equal Credit Opportunity Act, and several federal agencies share the duty to enforce it. The Federal Trade Commission handles enforcement for most consumer credit practices, particularly for lenders that aren’t banks. This makes it the most fitting answer among the options provided.

The other agencies serve different purposes: HUD enforces the Fair Housing Act (housing-related discrimination, not credit); the Equal Employment Opportunity Commission handles employment discrimination; and while the Federal Reserve regulates banks and does enforce ECOA for the banks it oversees, the question points to the primary enforcement role for general consumer credit, which is the FTC.