Regulation B allows a creditor to consider “any information obtained” in connection with an application for credit, as long as the information is not used to discriminate against an applicant on a prohibited basis. We are not aware of any law or court decision that prohibits a creditor from considering an applicant’s gambling history. 12 CFR 1002.6(a). In fact, the U.S. District Court for the Northern District of Illinois has stated that the Equal Credit Opportunity Act and its regulations do not prohibit an adverse action for any reason that is not discriminatory under the Act, nor do they require that an adverse action be based upon reliable information, nor do they require reconsideration of an application when it turns out that an adverse action has been taken upon unreliable information. The Act and its regulations only require that you give the applicant a statement of the reasons for the adverse action. Grant v. World Class Mortg. Corp., 1990 WL 19466 at *2 (N.D. Ill. 1990).

Keep in mind, however, that the Fair Credit Reporting Act does require you to provide notice to a consumer in the event that an adverse decision is based on information “obtained from a person other than a consumer reporting agency bearing upon the consumer’s credit worthiness, credit standing, credit capacity, character, general reputation, personal characteristics, or mode of living.” 15 USC 1681m(b)(1).