![]() 6516, Equal Credit Opportunity Act Amendments of 1976. Thus, when considering applicants for a loan, banks were required to consider their creditworthiness only. 6516, titled “Equal Credit Opportunity Act Amendments of 1976,” that amended the ECOA to include the prohibition of discrimination on the basis of race, color, religion, national origin, age, and receipt of public assistance benefits. 11221, draft bill proposing the Equal Credit Opportunity Act which was passed on. The ECOA specifically banned discrimination against a financial borrower on the basis of sex or marital status. Three years later and amid a wave of activism, Congress passed the Equal Credit Opportunity Act (ECOA) in 1974. This ruling paved the way for the Constitution’s 14th Amendment and Equal Protection Clause to be applied to gender discrimination cases. The court agreed with Ginsburg and her colleagues, ruling unanimously that dissimilar treatment “on the basis of sex” between men and women was unconstitutional. Reed, Ruth Bader Ginsburg co-wrote a brief arguing against a provision of an Idaho state law regarding the preference of men over women as administrators of an estate. Without a male co-signer, banks were unwilling to lend a woman money, severely inhibiting a woman’s financial freedom and economic opportunities. These questions often pertained to their marital status and asked whether women had available and willing male co-signers such as husbands, brothers, fathers, uncles, or friends.Įven if the woman had full potential to repay the loan or credit card, banks would often discriminate based on reasons that had no bearing on financial abilities. ![]() ![]() Women applying for a credit card or a loan could expect to be asked a host of personal questions. Ford Presidential Library)īefore 1974, credit market obstacles prevented women from fully entering the consumer economy that arose in the U.S. President Ford signed the Equal Credit Opportunity Act Amendments and the Consumer Leasing Act into law on March 23, 1976. Today in the United States, anyone above the age of 18 can apply for a credit card or a loan and be considered solely on the basis of their credit history. Today’s post comes from Callie Belback from the National Archives History Office. Visit the National Archives website for resources and virtual events related to women’s history.
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