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U.S. Supreme Court unable to decide whether ECOA protects spousal guarantors

Jeff Fink March 22, 2016

The United States Supreme Court was poised to finally resolve this issue, but the death of Justice Antonin Scalia prevented the Court from doing so. On March 22, 2016, the Supreme Court was divided 4-4 in a case where the lower appellate court had ruled that spousal guarantors are not protected by the ECOA. READ MORE

Consider litigating spousal guaranties in federal court to avoid the Equal Credit Opportunity Act

Jeff Fink April 30, 2013

If the Equal Credit Opportunity Act is violated, the spousal guaranty may be void or, even worse, the financial institution may face liability. In Missouri and Illinois, whether the ECOA applies to a spousal guaranty depends on whether the financial institution attempts to enforce the spousal guaranty in federal or state court. READ MORE