Which of the following methods of disclosure does NOT meet the Equal Credit Opportunity Act requirements?

Which of the following methods of disclosure does NOT meet the Equal Credit Opportunity Act requirements?

• A. Telephone
• B. E-mail
• C. Faxed letter
• D. Mailed letter

Answer: (A)

Disclosures required under ECOA must be provided in writing so the applicant has a durable, reviewable record. A telephone disclosure is oral and cannot be retained as a written document, so it fails to meet the requirement. Email, faxed letters, and mailed letters all produce a written copy that the borrower can keep, satisfying the ECOA “written disclosure” requirement (assuming the content and timing rules are also met).

Disclosures required under ECOA must be provided in writing so the applicant has a durable, reviewable record. A telephone disclosure is oral and cannot be retained as a written document, so it fails to meet the requirement. Email, faxed letters, and mailed letters all produce a written copy that the borrower can keep, satisfying the ECOA “written disclosure” requirement (assuming the content and timing rules are also met).