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What is It?
The ECOA requires banks, Credit card companies and anyone else involved in lending to make credit equally available to all creditworthy customers. Bill was passed in 1974.
Protections
It prohibits credit discrimination on the basis of race, color, religion, national origin, sex, marital status, age or because a person receives public assistance in whole or in part. It also makes it unlawful to discriminate against anyone who has exercised any rights under this act.

- jaymee

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Basic Parts:
1) Allows cardholders to dispute incorrect charges and temporarily withhold payment, which doesn't hurt your credit score.
2) Forces card issuers to investigate any disputed charges and fix them if they’re wrong.
3) You have 60 days to dispute a charge.
4) You must mail in your dispute
5) It will take a few months for your issuer to complete its investigation
6) You can challenge the issuer’s investigation if you disagree with its findings
7) If there is stolen, lost or unauthorized use, call them do not write.
8) If you are dissatisfied with a credit card purchase you can temporarily withhold your payment.
9) Contact a lawyer if you feel your rights are being ignored.
What it means:
is a federal law enacted to protect consumers from unfair billing practices, such as unauthorized charges, charges for unaccepted or undelivered goods and services and other disputed charges. ... The law applies to revolving charge accounts and open-end credit accounts, such as credit cards.
-Sierra

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Helps loaners understand lenders regulations.
1) Lenders must provide disclosure of APR and other factors surrounding the loan.
2) Regulation Z- Lenders must provide the true cost of the loan in writing before the loan is taken out.
3) Card companies must disclose information when issuing credit cards.
-Mackenzie

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Background:
Started with the Fair Credit Reporting Act which was passed by congress 1970. Required consumer reporting agencies adopt reasonable procedures that are fair and equal to consumers. Reform of the bill was passed in 1996.
Protections

provided a way for consumers to contest erroneously reported credit information.

What that Means
If a credit reporting agency is notified that a credit report contains inaccurate information, the agency must conduct a reasonable investigation free of charge to determine the accuracy of the information. The investigation must be completed within 30 days of receiving notice of the inaccuracy. If the information is found to be inaccurate, it must be deleted from the consumer's file. Any time deleted information is reinserted in the consumer's file, the consumer reporting agency must give the consumer written notice of the reinsertion not less than five business days after reinsertion. A credit reporting agency that neglects to comply with these sections can be sued for monetary damages.
-Jaymee

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"Bill of Rights" for Credit Holders
1) card holders must alert you to Rate Increases
2) Rates cannot  change on preexisting card unless stated in the original contract.
3) double billing is outlawed (the practice of calculating interest charges on both the current balance and the previous month’s balance)
4) can't collect fees for paying a certain way (mail, electronically etc.)
5) can't be fined for not using your card
6) protect users under 21
-Mackenzie

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Basic principle - Aiming to protect your personal information credit wise. Protect your name, social security, and helps keep all inconstancy away.
How it protects the people - federal law that governs how a credit reporting agency (CRA) handles your credit information.  it protects the integrity and privacy of your credit information.  you may be able to sue them in state or federal court for damages. Only if it doesn't correctly protect and fix your information.
- Azzy