Final answer:
The Equal Credit Opportunity Act of 1974 prohibited credit denial based on gender, race, ethnicity, and age. It aimed to end discriminatory practices in lending and ensure equal credit opportunities for all.
Step-by-step explanation:
The Equal Credit Opportunity Act of 1974 made it illegal to deny credit to someone because of gender, race, ethnicity, and under some circumstances age. Prior to this law, lenders often refused to loan money to married women independently of their husbands or considered only the husband's income when extending credit to a family. The Act aimed to end these discriminatory practices and ensure equal credit opportunities for all individuals.