Credit Discrimination: 11.5.3.5.3 Limits on consumer’s recovery of attorney fees and costs; high arbitration fees
Essential to the ECOA and FHA regulatory scheme is the authority for courts to award attorney fees to a prevailing consumer, but not to a prevailing creditor. This statutory provision, more than any other, makes enforcement of the statute practical. It also deters creditors from improperly contesting meritorious claims. Otherwise, creditors with deep legal pockets could overwhelm any attempt by a consumer to press an action.261