age (provided the applicant has the capacity to contract). 15 U.S.C. § 1691(a)(1) (2000) (emphasis added). The ECOA defines “applicant” as, “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.” 15 U.S.C. § 1691a(b). Viewing this definition of “applicant” without more, it appears Bank of the West’s claim has merit. In this case, Acme was the only defendant that applied to a creditor for credit. Thus, under the ECOA definition only Acme would qualify as an “applicant.” Prior to 1986, we would have agreed with the bank. See Marine Am. State Bank of Bloomington, Ill. v. Lincoln, 433 N.W.2d 709, 713 (Iowa 1988) (<HOLDING>). However, the ECOA authorizes the Board of
holding that a spouse is not necessarily an agent of the debtor holding that consideration for guaranty of loan previously made was that guarantors friend the bank manager who issued the loan would not lose his job for making a bad loan holding that where parties to an oral loan agreed that the loan would be repaid on demand the statute of limitations did not begin to run until the date plaintiff demanded repayment of the loan holding a spouse who guaranteed a loan in 1981 was not an applicant under the ecoa holding that absent an actionable injury to one spouse the other spouse cannot recover for loss of consortium