Which law specifically addresses discrimination in the provision of financial assistance?

The Equal Credit Opportunity Act (ECOA) is the law that specifically addresses discrimination in the provision of financial assistance. It was enacted to ensure that all individuals have an equal chance to obtain credit without being subjected to discrimination based on race, color, religion, national origin, sex, marital status, age, or because they receive public assistance. The ECOA applies to all lenders and requires them to lend fairly and equitably.

Understanding the context of other laws helps clarify why the ECOA is the correct answer. The Fair Housing Act primarily focuses on discrimination in housing practices, which includes the sale or rental of housing and the provision of mortgage loans, but its main scope is more targeted at housing rather than the broader lending climate. The Truth in Lending Act (TILA) focuses on transparency in lending practices, requiring lenders to disclose key loan terms and costs to consumers but does not directly address discrimination. Lastly, the Real Estate Settlement Procedures Act (RESPA) regulates the settlement process for real estate transactions and mandates disclosures to protect consumers, but it does not specifically cover discrimination related to credit.

Thus, the ECOA stands out as the specific legislation dedicated to combating discrimination in the lending process.