The primary purposes of the Equal Credit Opportunity Act are to inform consumers about terms of a credit agreement and to require creditors to specify how finance charges are computed.

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The primary purposes of the Equal Credit Opportunity Act are to prohibit discrimination in the granting of credit based on factors such as race, gender, religion, national origin, marital status, age, and receipt of public assistance. It also requires creditors to provide equal opportunity to all credit applicants and to give reasons for denying credit. The act does not specifically address informing consumers about terms of a credit agreement or specifying how finance charges are computed.

The Primary Purposes of the Equal Credit Opportunity Act Are