The ECOA Code defines the relationship of the consumer to the account in compliance with the Equal Credit Opportunity Act. This field is required for all primary and secondary consumers.
| Code | Description | Definition | Logical Usage |
|---|---|---|---|
| 1 | Individual | This consumer has contractual responsibility for this account and is primarily responsible for its payment. | Most commonly reported for primary consumers. May be reported for secondary consumers when the primary consumer is reported with T, X, or Z. |
| 2 | Joint Contractual Liability | This consumer has contractual responsibility for this joint account. | Used for primary and secondary consumers. |
| 3 | Authorized User | This consumer is an authorized user of this account; another consumer has contractual responsibility. | Used for secondary consumers. Note: The full Date of Birth (MMDDYYYY) must be reported for all newly-added authorized users on all pre-existing and newly-opened accounts. |
| 5 | Co-maker or Guarantor | This consumer is the co-maker or guarantor for this account, who becomes liable if the maker defaults. | Usually used for secondary consumers. May be used for primary consumer when a business is reported as a secondary signer. |
| 7 | Maker | This consumer is the maker who is liable for the account, but a co-maker or guarantor is liable if the maker defaults. | Most commonly reported for primary consumers. May be reported for secondary consumers when there is more than one maker on the account. |
| T | Terminated | The association with the account has been terminated by this consumer. | Used for primary and secondary consumers. Refer to FAQ 14(b) for reporting guidelines on ECOA Code T. |
| X | Deceased | This consumer is deceased. Do not report ECOA Code X until you have received a legally-sufficient death notice (e.g., death certificate). Data furnishers should consult with internal Legal counsel or Compliance regarding what constitutes a legally-sufficient death notice. | Used for primary and secondary consumers. Refer to FAQ 19 for guidelines on reporting deceased consumers. |
| W | Business/Commercial | This code identifies that the company reported in the Name field is contractually liable for this account. Business accounts should be reported only when a consumer is also personally liable. | Used for secondary signer. Refer to FAQ 20 for guidelines on reporting consumers who are personally liable for business accounts. |
| Z | Delete Consumer | This code deletes this consumer from the account. Only inaccurately reported consumers should be deleted. Per FAQs 27 and 28, authorized users should be deleted from accounts included in bankruptcy since authorized users are not contractually responsible for payments. | Used for primary and secondary consumers. Refer to FAQ 14(b) for reporting guidelines on ECOA Code Z. |
See the full ECOA Codes Reporting Guide for in-depth reporting scenarios, examples, and common mistakes to avoid.
Source: CDIA Credit Reporting Resource Guide® — Exhibit 10.