If you believe a lender has discriminated against you on the basis of sex or race, you can file a formal complaint with one of several government agencies that regulate the banking and credit industry. Below is a sample letter. Date Address City, ST Zip Re: Formal Complaint against [Name of Bank and Bank's address, city and state] Dear Sir or Madam: I recently applied for a loan with the above-referenced bank and was denied credit because (give the reason why the bank told you your application was denied.) I have attached a copy of the written notification the bank gave me for denying my credit application. I believe that the true reason this bank denied me credit was based on my (sex or race or marital status) and that this bank has violated my rights under the Equal Credit Opportunity Act. I believe this to be the case for the following reasons: (Pick any / all of the reasons below or add your own): (1) My income is sufficient to qualify for the loan. (2) My debt-to-income ratio is within an acceptable range. (3) I have excellent credit. My credit score is ____________. (4) The loan officer asked me several inappropriate questions about how many children I plan to have and if I plan to get married soon. (5) I have firsthand knowledge that (males or whites or Anglos or white males or married women) that have a similar credit profile to mine have been approved for the same type of financing at this bank. I have attached copies of all pertinent paperwork to this letter for your information. The person with whom I dealt with at this bank was (provide person's name). Sincerely, Your name Address Telephone number attachments Credit Kit -- Improve your credit rating and reduce monthly bills by $200+ Debt Kit -- Settle unsecured debts for less than half of amount owed |
Credit and Loans: Sample ECOA Complaint Letter |
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