Final answer:
The Equal Credit Opportunity Act (ECOA) prohibits discrimination in lending practices based on protected characteristics.
Step-by-step explanation:
The Equal Credit Opportunity Act (ECOA) prohibits discrimination in lending practices. It is a federal law that prohibits lenders from using factors such as gender, race, ethnicity, and age in making decisions regarding the extension of credit. The law was enacted to prevent lenders from discriminating against individuals based on protected characteristics and to ensure equal access to credit for all consumers.