In the 1960s, women were granted the freedom to create a bank account for the first time. A few years later, in 1974, the Equal Credit Opportunity Act was created, which was intended to prevent credit discrimination based on a person’s sexual orientation.
Why can’t a woman own a bank account?
Women were unable to legally own a bank prior to the 1970s for a variety of reasons, one of which being their inability to lawfully open a bank account. The same way that women couldn’t acquire a credit card without getting their husband’s signature, they also couldn’t create a bank account without getting their husband’s approval.
What is the history of women in the banking industry?
With a few exceptions, the history of women as bank clients and partners can be traced back to at least the 18th century, while the history of women as bank employees can only be traced back to more recent times. Women’s first involvement with our financial institutions was as clients.
Are there any records of female customers in British banks?
Women appear in the earliest surviving set of bank records in the United Kingdom, the ledgers of goldsmith-banker Edward Backwell, which date back to the early 1660s.Despite the fact that they constitute a small minority of customers, women do appear in the earliest surviving set of bank records in the United Kingdom.The majority of these women had inherited their wealth from a deceased father, husband, or other male relative, and had used it to support themselves and their children.