Equal Surety Bond Opportunity Act
Equal Surety Bond Opportunity Act - Cites activities that constitute unlawful discrimination by a surety against an applicant in a surety bond transaction, including denial: (1) on the basis of race, color, religion, national origin, sex, marital status, sexual orientation, or disability; or (2) because the applicant previously obtained a bond through a certain bonding assistance program or any special purpose bonding program.
Requires a surety to notify an applicant of action on the surety application within ten days of its filing.
Entitles an applicant against whom adverse action is taken to a statement of reasons for such action.
Subjects a surety to liability to the aggrieved applicant for both actual damages and legal costs for noncompliance with this Act.
Mandates full compliance with this Act as a condition for approval as surety by the Secretary of the Treasury.
Referred to the Subcommittee on the Constitution.