May 19, 2020 / 12:11 PM / 12 days ago

IN BRIEF: No word from SCOTUS on guarantor’s rights under Equal Credit Opportunity Act

The U.S. Supreme Court on Monday passed up an opportunity to tackle an issue on which it split 4-4 in 2016: Whether the Equal Credit Opportunity Act (ECOA) protects guarantors, as well as loan applicants, from discrimination based on marital status.

Lisa Phoenix, who indirectly owned Periwinkle Partners LLC and guaranteed Periwinkle’s loan on a Florida shopping center from Regions Bank, sought review of the 11th U.S. Circuit Court of Appeals’ decision that ECOA protects only applicants.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2yeDiPN

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