Women could not build individual credit until the 1974 Equal Credit Opportunity Act (ECOA). They needed a male cosigner to have a credit card prior to this.
The Fair Credit Reporting Act of 1970 expanded credit card access for minorities. Systemic credit reporting inaccuracies disproportionately impacted them prior to this with Black/Hispanic neighborhoods having 2-3x more credit disputes than white areas.
There’s a reason some of the anti-inclusive members of our society want to go back to a time of lower competitiveness. Unfair advantages allowed the few to have an easier life at the expense of the many.
Women could not build individual credit until the 1974 Equal Credit Opportunity Act (ECOA). They needed a male cosigner to have a credit card prior to this.
The Fair Credit Reporting Act of 1970 expanded credit card access for minorities. Systemic credit reporting inaccuracies disproportionately impacted them prior to this with Black/Hispanic neighborhoods having 2-3x more credit disputes than white areas.
There’s a reason some of the anti-inclusive members of our society want to go back to a time of lower competitiveness. Unfair advantages allowed the few to have an easier life at the expense of the many.