Click HERE to watch Bridget explain the best kept secret in the history of financial services. You will learn how to save money and improve your finances using a little-known provision of Federal Law in this 8 minute video.
This little-known federal law could help you gain fair access to housing, transportation, and capital. It could save you money and help you to build your assets – starting with your good reputation for paying your bills on time and protecting your income with insurance.
The Equal Credit Opportunity Act, Regulation B (ECOA, Reg B) is “The Best Kept Secret in Lending Bar None!” – John Ulzheimer, Consumer Credit Expert
ECOA, Reg B gives you the right to show a lender that you have insurance, and that you pay your bills on time to prove your creditworthiness. Any lender that refuses to consider your good bill payment history and disability insurance coverage on your request when you present this information, risks a $10,000 fine under Federal Law.
Credit Unions will consider additional information that you present about your creditworthiness on your request. See the legal opinion from the National Credit Union Administration here: http://www.ncua.gov/Legal/Pages/OL2010-0974.aspx
Learn more about how to use ECOA, Reg B to manage errors on your credit report and missing positive payment information at www.3Steps2GoodCredit.com.