Which agency is responsible for handling complaints related to the Equal Credit Opportunity Act (ECOA)?

The Consumer Financial Protection Bureau (CFPB) is the agency responsible for handling complaints related to the Equal Credit Opportunity Act (ECOA). The ECOA is designed to prevent discrimination in credit transactions based on race, color, religion, national origin, sex, marital status, or age. The CFPB has the authority to enforce federal consumer financial laws, including the ECOA, and ensures that consumers have equal access to credit.

In this context, the CFPB plays a crucial role by investigating complaints, providing education, and taking enforcement actions against lenders that violate the ECOA. This empowers consumers and promotes fair lending practices.

Other agencies mentioned, such as the Federal Trade Commission and the Department of Housing and Urban Development, also deal with consumer protection and housing-related issues but do not specifically oversee complaints regarding the ECOA. The Federal Reserve System primarily focuses on monetary policy and regulation of banking institutions rather than direct consumer complaints under the ECOA.