Which government agency monitors compliance with the Equal Credit Opportunity Act (ECOA)?

The agency responsible for monitoring compliance with the Equal Credit Opportunity Act (ECOA) is the Consumer Financial Protection Bureau (CFPB). This agency was established to ensure that consumers are treated fairly and are protected from unfair practices in financial transactions. The ECOA specifically prohibits discrimination in credit transactions based on race, color, religion, national origin, sex, marital status, or age.

The CFPB has the authority to enforce the ECOA and other consumer protection laws, meaning they can investigate complaints, conduct examinations of financial institutions, and take enforcement actions if they find violations of the ECOA. This role is vital in helping to maintain fair access to credit for all consumers, thus promoting a more equitable lending landscape.

The other agencies mentioned, while they may have a role in consumer protection or housing, do not have the specific charge or authority granted to the CFPB regarding monitoring and enforcing compliance with the ECOA.