Supreme Court Docket Report - March 2, 2015

Today, the Supreme Court granted certiorari in one case of interest to the business community:

Equal Credit Opportunity Act—Eligibility of Guarantors for Statutory Protections

The Equal Credit Opportunity Act makes it "unlawful for any creditor to discriminate against any applicant, with respect to any aspect of a credit transaction ... on the basis of ... marital status." 15 U.S.C. § 1691(a). The ECOA defines "applicant" to include "any person who applies to a creditor directly for an extension, renewal, or continuation of credit, or applies to a creditor indirectly by use of an existing credit plan for an amount exceeding a previously established credit limit." Id. § 1691a(b). Today, the Supreme Court granted certiorari in Hawkins v. Community Bank of Raymore, No. 14-520, to answer two questions: (1) whether the term "applicant" unambiguously excludes guarantors to a loan; and (2) if it does not, whether the courts should defer to a Federal Reserve Board