European Stars And Stripes (Newspaper) - August 15, 1986, Darmstadt, Hesse                                Consumer watch women and credit discrimination Dies hard by Mary Neth consumer Odi Loru p until 11 years ago in was practically impossible for a woman to establish credit in inc United Stales then in 1975. The equal credit Opportunity act was passed and such Diacri Sinahon was sent Hying out the window at  Law. Sometimes however old prejudices die hard. It pays for a woman to know just wha rights Are spelled out under the act and what Slio can do if she finds them being i foaled. Otherwise Tho rights won will to meaningless. A Booklet the credit handbook Lor woman has been published by the american express company card division and tells it As it is. The Booklet can be obtained for 50 cents from the american express company 125 Broad Street now York by 10004 Here a what h spells out. First of All refusal of credit to women is often based on myths from an Era when women did not count outside the Home. The myths go something like this no woman can be trusted with Money. All women Are economically dependent on men. All single women marry and ignore debts incurred before marriage. All married women become pregnant and leave the labor Force the truth is that 61 percent of All women Between 18 and 64 Are in the labor Force. They make up 43 percent of the labor forc e. Not Only that but 47 percent of mothers with children under three Are working As Are 45 percent of single divorced or separated women. More Young single women Between 18 and 24 Are in the labor Force than Ever before following careers that will be continued regardless of marriage and child bearing. While it is also True that women earn much less than men Only 65 percent As much they show a High level of reliability in paying their Bills. Nowhere has it Ever been shown that women Are worse credit risks than men. Women Are the conscientious ones studies say and far More Likely to pay their debts than men. The equal credit Opportunity act prohibits creditors from discriminating in any aspect of a credit transaction because of be. Marital status age race color religion National origin receipt of income from Public assistance or Good Faith exercise of rights under the consumer Protection act. The latter includes the truth in lending fair credit Billing equal credit Opportunity fair credit reporting fair debt collection practices and consumer leasing acts. Probably every women has a credit horror Story the Booklet states. Ii tells of a woman who had practice Law for 20 years had $10,000 in the Bank and was denied a $5,000 loan toward a summer House because she was a woman and single. Another woman who  More than $50,000 a year her husband earned $25.000 was denied a mortgage loan because she was a woman and of childbearing age. Yet another Case involves a woman who could t get a car loan even though she was a registered nurse of 16 years because she was divorced. Under the equal credit Opportunity act creditors can no longer practice such discrimination. They can no longer ask want Hind of birth control you or your husband practice which has been a common creditor questioner even ask whether you plan to have children. Creditors must consider both part time As Well As full time income of both spouses in determining ass  by Marty Neth Debbie mortis and David Pool of american express  women have gaining credit. Creditworthiness. If the income is derived from part time work the creditor can however consider whether in is to be continuous. This provision is important in mortgage applications where until recently creditors had routinely disregarded the wife s income on the Assumption she would become pregnant and not return to work. Page 16 the stars and stripes if you apply for credit and wish to use Alimony child support or separate maintenance payments As evidence of ability to pay the creditor must consider such payments As income. He however has the right. Refusing women credit is based on myths from an Era when they did not count outside the Home to Check on the stability of such payments. Ii you do not intend to use such income As a basis for receiving credit you do not have to reveal its existence for credit purpose i you can use a birth Given first name and surname or a birth Given name and a combined surname. If a Litie is requested you can choose mrs., ms., or miss. If you ask for credit under your own name using your own creditworthiness to repay the creditor cannot ask if you Are married. There Are however certain exceptions in Community property Stales when a creditor is permitted to ask an applicant s marital status in for example you Are counting your spouse s income or Alimony child support Etc you May say you Are married unmarried or separated. The term unmarried includes the divorced and widowed. Ii you Are married and intend to open an account on your own using your own creditworthiness creditors can t ask information about your spouse s income or credit history however if your spouse will use or be liable for the account or if you Are relying on Community property or on his income Alimony child support or maintenance payments information about his income can be requested. A co signer will not be Friday August 15.19b6 required provided you satisfy the credit requirements because most credit bureaus did not carry credit histories in the name of both husbands and wives Many married women have not had a credit history. This created a problem when a Divorcee or widow tried to apply for credit on her own. She need no longer be a credit Blank. The new Law gives married persons the right to have credit into Malion included in credit reports in the name of both the wife and husband if both use or Are responsible for the account. As of june 1,1977, All new accounts must reflect the participation of both wife and husband. Those who hold such accounts established before that Date May change them to show participation of both wife and husband. The use of sex or marital status in credit scoring. Point systems or other weighting methods is illegal. Nor can a creditor give extra Points for a Telephone in he applicant s name although he May assign a plus if there is one in the Home. A c edit scoring system is a rapid screening technique which assigns numerical values to categories such As length of residence and Job longevity if you Are denied credit or your credit has slopped demand to know Why. Creditors must Supply reasons for denial or give an address where the applicant can write for details. The newly married woman need no longer reapply for credit if her own credit standing is Good. Discrimination is not going to end overnight you must let creditors know that you know the Law and that you expect it lobs enforced. Ii you feel discriminated against complain to the situation is not taken care of to your satisfaction write to slate and Federal agencies that have jurisdiction Over the credit institution. Send a copy to that institution. At the state level write to your state banking commission or consumer Protection Agency on the Federal level if your application is denied the Cre filor must give you the name of the Federal Agency which has jurisdiction. Or you can Send a letter to the Bureau of consumer Protection Federal Trade commission. Washington . 20560, or the office of Saver & consumer affairs Federal Reserve Board Washington . 20551. These agencies can refer you toothed agencies