Consumer Protection – Car Loan Preapproval – Fair Credit Reporting – ECOA

By Deborah Elkins
Published: August 18, 2008

An Alexandria U.S. District Court says a buyer who obtained preapproval from his bank to finance purchase of a 2008 BMW has no claim against the bank under the Equal Credit Opportunity Act for the bank’s subsequent denial of a loan, and decision to freeze the buyer’s home equity line of credit, based on a ...

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