Fifty years ago today, President Gerald Ford signed the Equal Credit Opportunity Act. Until then, women could not get mortgages, business loans or credit cards in their own names. Without a male cosigner -- husbands, fathers, brothers or friends, who were assumed to be more credit worthy – banks were unwilling to loan women money. The laws kept women financially dependent. Today anyone age eighteen or older can apply for a credit card or loan, based only on their credit history.
This was so important to my mother and me. She was managing the family finances since my alcoholic father could not. I could get a credit card without his signature.
This was so important to my mother and me. She was managing the family finances since my alcoholic father could not. I could get a credit card without his signature.