QoD [WHM]: Yr girls might get bank cards with out co-signer
You in all probability know a lady who wasn’t allowed to get a bank card on her personal at one level.
Reply: 1974
The Equal Credit score Alternative Act handed in 1974, which “prohibits discrimination on the premise of race, coloration, faith, nationwide origin, intercourse, marital standing, or age in credit score transactions.”
Questions:
- Which girls in your life would have been adults earlier than this legislation (ie. are 70+)?
- Had been you stunned at how just lately girls couldn’t get bank cards on their very own? Why or why not?
- Hypothesize: which girls would have had the MOST entry to bank cards earlier than this legislation? The LEAST?
- What impacts do you suppose this credit score discrimination had (socially and financially)?
Click on right here for the ready-to-go slides for this Query of the Day that you should utilize in your classroom.
Behind the numbers (Smithsonian):
“Earlier than 1974, the truth is, if you happen to had been a single girl, you virtually at all times wanted your father, brother, or different male family member to co-sign loans for you, even if you happen to made extra money than they did. Should you had been a married girl, you could possibly not receive bank cards in your individual title—you could possibly solely get a card as Mrs. Your Husband’s Title. After which, irrespective of how rigorously you paid the payments and managed the account, the credit score historical past accrued solely to him. Because of this, in case your husband died otherwise you divorced, it was practically unimaginable so that you can receive a mortgage.”
About
the Writer
Kathryn Dawson
Kathryn (she/her) is worked up to hitch the NGPF workforce after 9 years of expertise in training as a mentor, tutor, and particular training instructor. She is a graduate of Cornell College with a level in coverage evaluation and administration and has a grasp’s diploma in training from Brooklyn Faculty. Kathryn is wanting ahead to bringing her ardour for accessibility and academic justice into curriculum design at NGPF. Throughout her free time, Kathryn loves embarking on cooking tasks, strolling round her Seattle neighborhood along with her canine, or lounging in a hammock with a guide.
