Which law prohibits discrimination based on sex, race, and marital status?

The law that prohibits discrimination based on sex, race, and marital status is the Equal Credit Opportunity Act. This legislation was enacted to ensure that all individuals have equal access to credit, regardless of their race, color, religion, national origin, sex, marital status, or age, as long as they are qualified to apply for that credit. The principle behind this act is to promote fairness in lending practices, making it illegal for creditors to discriminate against applicants based on these characteristics.

In contrast, the Fair Housing Act specifically addresses discrimination in housing-related transactions, focusing on prohibiting discrimination in renting, buying, or financing homes based on similar protected classes, but does not cover all forms of credit as broadly as the Equal Credit Opportunity Act. RESPA (Real Estate Settlement Procedures Act) primarily deals with disclosures and regulations concerning settlement processes in real estate transactions, while Truth in Lending focuses on the disclosure of credit terms to ensure consumers understand the costs associated with loans. Thus, while all these laws serve important functions in protecting consumers, the Equal Credit Opportunity Act is specifically aimed at preventing discrimination in credit transactions.