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1950s family
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this post was submitted on 15 May 2025
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Yeah, stop spreading this misinformation. The Credit Act of 1974 made it illegal to discriminate in banking and credit but there was nothing preventing women from having bank accounts before 1974.
1862 California passed a law allowing women to open their own bank accounts without a male signature.
My grandmother and mother both had bank accounts in the 60s in their names, along with home mortgage and business accounts, with no other signatures other than their own.
Depending on which banks were available in her area, she may still have been unable to open a credit card despite it being legal to do so. Prior to 1974, it was legal for banks to require a man’s signature for a woman to open a credit card, and many banks chose to require this. According to this article from the Smithsonian Magazine, some banks also applied a 50% reduction to womens’ wages when calculating the credit card limit for an applicant.
I agree that the facts are very frequently misrepresented.