Today we’re proud to celebrate International Women’s Day, which challenges us to create a more inclusive, gender-equal world. At Chime, our mission is to empower our members to live healthy financial lives, and that starts with equal economic opportunities for women and men.
It’s easy to take for granted the financial rights women have gained over the years and the hard work of generations of women who came before us. Consider these milestones that occurred in just the past few decades to advance women’s financial rights and opportunities:
- It wasn’t until 1974 when the Equal Credit Opportunity Act was passed that women in the U.S. could apply for a credit card without having a man co-sign the application.
- In 1975, the first women-owned bank was opened in New York City, called First Women’s Bank, to serve the financial needs of women entrepreneurs.
- Until the Pregnancy Discrimination Act was put into effect in 1978, women could be legally fired from their jobs for becoming pregnant.
- As of 1981 men could no longer legally keep their wives in the dark by unilaterally taking out a second mortgage on a jointly owned property.
While we’ve made incredible progress since the days when women couldn’t own property or file a patent in their own name, there is still a long way to go. In 2015, full-time working women in the U.S. were paid just 80 cents on the dollar compared to men. In other words, we have a 20% gender pay wage gap, and according to the U.S. Census Bureau, the earnings ratio hasn’t improved since 2007.
The wage gap isn’t going away on its own, and that’s why all of us–women, men, co-workers, managers, parents, sisters, brothers, friends–must #BeBoldForChange. Learn how you can take bold actions to create a more equal and inclusive workplace and world for women today.
This page is for informational purposes only. Chime does not provide financial, legal, or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for financial, legal or accounting advice. You should consult your own financial, legal and accounting advisors before engaging in any transaction.