Sec. 2. Scope of prohibition

226 words·~1 min read·/bill/116/hr/8028/ih/section-2

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Section 701 of the Equal Credit Opportunity Act ( 15 U.S.C. 1691 ) is amended— by redesignating subsections

(b)through

(e)as subsections

(c)through (f), respectively; and by inserting after subsection

(a)the following: It shall be unlawful for any private education lender to discriminate against any applicant, with respect to any aspect of a credit transaction, on the basis of the institution of higher education an applicant intends to attend, presently attends, or previously attended, including whether such institution is a minority-serving institution. In this subsection: The term institution of higher education has the meaning given such term in section 101(a) of the Higher Education Act of 1965 ( 20 U.S.C. 1001(a) ). The term minority-serving institution means an institution of higher education described in section 371(a) of the Higher Education Act of 1965 ( 20 U.S.C. 1067q(a) ). The term private education lender has the meaning given such term in section 140(a) of the Truth In Lending Act ( 15 U.S.C. 1650(a) ). . Section 706(g) of the Equal Credit Opportunity Act ( 15 U.S.C. 1691e(g) ) is amended by striking section 701(a) each place it appears and inserting subsection

(a)or

(b)of section 701 . Section 603(k) of the Fair Credit Reporting Act ( 15 U.S.C. 1681a(k) ) is amended by striking 701(d)(6) each place it appears and inserting 701(e)(6) .

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Sec. 2

Scope of prohibition

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