Equal Credit Opportunity Act

Credit is used by millions of Americans to finance an education or a house, get a small business loan, or to establish financial credibility. A stable credit history is particularly essential for creating a landlord/tenant relationship.

Any applicant for a Lee Street Management apartment may regard the ECOA as the minimum standard against which we must be measured. If you feel your apartment application has been improperly evaluated or interpreted, please call our office immediately. We will encourage you to present any additional information that might help us better understand and/or reassess your financial circumstances. Toward that end, Lee Street Management has prepared the following summary of the ECOA. We hope it will answer any questions you may have about your rights or our responsibilities.

The Equal Credit Opportunity Act (ECOA) ensures that all consumers are given an equal chance to obtain credit. This doesn't mean all consumers who apply for credit get it: Factors such as income, expenses, debt, and credit history are considerations for creditworthiness.

The law protects you when you deal with any creditor who regularly extends credit, including banks, small loan and finance companies, retail and department stores, credit card companies, and credit unions. Anyone involved in granting credit, such as real estate brokers who arrange financing, is covered by the law. Businesses applying for credit also are protected by the law.

When You Apply For Credit, A Creditor May Not:

When Deciding To Give You Credit, A Creditor May Not:

When Evaluating Your Income, A Creditor May Not:

You Also Have The Right To:

A Special Note To Women

A good credit history-a record of how you paid past bills-often is necessary to get credit. Unfortunately, this hurts many married, separated, divorced, and widowed women. There are two common reasons women don't have credit histories in their own names: they lost their credit histories when they married and changed their names; or creditors reported accounts shared by married couples in the husband's name only.

If you're married, divorced, separated, or widowed, contact your local credit bureau(s) to make sure all relevant information is in a file under your own name.  

If You Suspect Discrimination:

Complaints against all kinds of creditors can be referred to:
Department of Justice
Civil Rights Division
Washington, DC 20530.