Equal Credit Opportunity Act
Latest action. Referred to House Committee on Banking and Currency.
Equal Credit Opportunity Act - States that it is the purpose of this Act to require that financial institutions and other firms engaged in the extension of credit make that credit equally available to all creditworthy customers without regard to race, color, religion, national origin, age, sex, or marital status. Makes it unlawful for any creditor to discriminate against any applicant on the basis of race, color, religion, national origin, age, sex, or marital status. Defines the terms used in the Act. Directs the Board of Governors of the Federal Reserve System to prescribe regulations to carry out the purposes of this Act. Makes changes in specified Acts of Congress in order to make those Acts comply with the purposes of this Act. Directs the Federal Trade Commission to enforce the requirements of this Act to the extent that they will not be enforced by another Government agency after enactment of this Act. Provides for the assessment by a United States District Court of actual and punitive damages in any action brought against a violator of this Act.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in House" stage on May 16, 1974. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on May 16, 1974: Referred to House Committee on Banking and Currency.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the House
- Passage by the Senate
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 93rd Congress (1973-74), 651 of the 23,396 bills and joint resolutions introduced became law, about 2.8 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
LEONOR SULLIVAN (D-MO) introduced it on May 16, 1974, and 12 members have since signed on as cosponsors.
They come from both major parties: 8 Democrats, 4 Republicans.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on May 16, 1974, 19110 days ago. The most recent recorded action was 19110 days ago, on May 16, 1974.
Measures do not carry over. Anything the 93rd Congress has not finished by January 3, 1975 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- HouseIn committee, no floor vote yet
- SenateAwaits House passage
- PresidentAwaits both chambers