Few in the “doing leases” business think much about the ECOA. It’s been around since 1989. The following year, the Federal Trade Commission adopted Regulation B, implementing the Act. And yet, some readers are learning for the first time that we’re talking about the Equal Credit Opportunity Act. Many others will be learning for the first time that it applies to lease guaranties and if you don’t comply, some guaranties they got were a waste of good paper. Whatever other consequences there may be if you improperly insist on getting a spousal guaranty, a big one is that a court will throw it out, plain and simple. [Read more…]