Breaking Barriers: When Did Women Gain the Right to Own a Home, Open a Credit Card, or Start a Business Without a Male Co-Signer?

In honor of Women’s History Month, we launched a four-part series, Her-Story: A Blog Series on Women and the Law in the USA, to explore the pivotal legal battles that have shaped women’s rights in this country. This is the second installment in our series, focusing on the fight for women's financial independence and the legal milestones that granted them the right to own a home, open a credit card, take out a loan, and start a business without a male co-signer.

For much of U.S. history, women faced systemic discrimination when it came to financial independence, homeownership, and business ownership. Before the passage of key legislation, women were often unable to buy property, secure loans, or even open a bank account without the approval or co-signature of a man.

A major turning point came in 1968 with the passage of the Fair Housing Act, which made it illegal to discriminate in housing based on sex, race, religion, and other protected categories. This law was a critical step forward, yet women still faced financial barriers—particularly in obtaining credit or loans without a male co-signer.

It wasn’t until 1974, with the passage of the Equal Credit Opportunity Act, that women gained the legal right to apply for credit cards, bank accounts, and home loans in their own name—without needing a husband’s or male relative’s permission. Before this, banks routinely denied women financial independence, refusing accounts or credit unless a man was involved. This law was a game-changer, granting women greater control over their own finances.

The fight for economic equality continued, and in 1988, the Women’s Business Ownership Act finally ensured that women could own and operate businesses without requiring a male co-signer. This legislation not only eliminated discriminatory lending practices but also provided funding and support for female entrepreneurs.

These legal victories were hard-won and instrumental in securing financial independence for women in the U.S. However, the fight for true economic equality continues, as disparities in pay, lending, and wealth accumulation still persist today.

Hoagland Longo is committed to fostering a diverse, equitable, and inclusive workplace where all individuals feel valued and empowered. Through our ongoing DEI initiatives—including mentorship programs, strategic partnerships with local affinity bar associations, and educational events—we strive to create a culture that reflects the diverse clients we serve. We believe that inclusion strengthens our firm and enhances our ability to provide thoughtful, well-rounded legal solutions. 

Kristin M. Gummoe is a senior associate at Hoagland Longo. As a first-generation attorney, she was named the first Planning Board Chairwoman in her town’s 108-year history in 2024. She focuses her practice on litigation of general and automobile liability cases and has experience in the litigation of environmental and toxic tort matters. She is also a member of the firm’s Diversity, Equity, & Inclusion Committee.