esponsible Lending

Updated as of 11/26/2019

Responsible Lending Policy

Covered Credit has adopted this Responsible Lending Policy to promote compliance with all applicable state and federal laws ensuring fair lending and equal access to credit, including but not limited to the federal Equal Credit Opportunity Act (“ECOA”).

Non-Discrimination:  Covered Credit will not discriminate with respect to any aspect of a credit decision on the basis of race, color, religion, national origin, sex, marital status, disability, age (provided that an applicant has the capacity to enter into a binding contract), receipt of income from any public assistance program, sexual orientation, the good faith exercise of any rights under the federal Consumer Credit Protection Act, or the good faith exercise of rights under any state law allowing or recognizing Registered Domestic Partnerships, Civil Unions, or other such similar unions or partnerships regardless of the title assigned to them.  We take appropriate steps to ensure that this Policy is applied consistently and continuously through all aspects of our credit operations, including advertising and marketing, loan origination, processing, underwriting, closing, and loss mitigation activities.

Transparency:  The cost of borrowing will be clearly disclosed to you in terms of annual percentage rate and any fees that may be charged.  For details on the specific costs of your Covered Line of Credit, please see the Line of Credit Agreement. We will never charge you any “hidden fees” that are not fully disclosed in the Credit Agreement and Terms and Conditions.  

Compliance with Laws:  We abide by all applicable federal and state laws. These laws include (but are not limited to):

If you believe that you have been subject to discrimination or that we have not followed our Responsible Lending Policy, you may send a complaint to:

Federal Trade Commission
Equal Credit Opportunity
Washington, DC 20580

Covered Holdings, Inc.
Attn: Legal
4475 Trinity Mills Rd, Suite 701291
Dallas, TX  75370