Financial equality for women in the United States has come a long way, but there is still progress to be made. For example, women still earn less on average than men, which can make it harder to get good rates on loans. To understand how gender affects women’s borrowing, it is helpful to revisit some key milestones in the history of women, money and credit. Here is a timeline of women’s rights and loan products in the United States

1848: Married women can control their own property

Until 1848, a woman’s husband had control of any real estate or property she owned. Unmarried women were legally allowed to retain their property, but upon marriage, control of that property passed to the husband. Also, women could not acquire property when they were married.

These laws began to slowly change in 1848 when New York passed the Married Women’s Property Act, which allowed married women to own property. Most states had passed this law by 1900.

Impact on women using loan products

The right to own property was a significant step forward in a woman’s ability to build financial wealth and opened the door for married women to begin to gain financial independence. While women would eventually participate more in the financial world and the loan market, women’s financial progress remained relatively stagnant in the United States for decades, and women only gained equitable access to loan products. later.

The 1960s: women can open bank accounts

In the United States, women began to have legal access to banking products in the 1960s. However, many banking institutions would still not allow women to open a checking account, obtain a credit card, or apply for a loan or mortgage without a male co-signer.

Impact on women using loan products

Access to banking institutions has technically given women the right to access loan products, but discrimination by lenders has largely prevented women from participating in the market. This was, however, the beginning of women’s ability to build credit in their own name.

1963: The Equal Pay Act

The Equal Pay Act 1963 prohibits employers from paying men and women differently for comparable work. This law coincided with women beginning to have access to their own bank accounts for the first time.

Impact on women using loan products

The gender pay gap was and still is a significant barrier for women in building wealth and participating in the financial market. Although the Equal Pay Act improved employers’ payment practices, there are still gender wage differences today that affect women’s ability to use loan products, as well as the reason for which women tend to use loan products.

1972: The Equal Rights Amendment

The Equal Rights Amendment was approved by Congress in 1972 and would have formally recognized “equal rights before the law” for men and women at the federal level. An amendment must be ratified by 38 out of 50 states to become law, and it was only ratified by 35 states at the time. Virginia has become the 38th state to ratify this amendment. in January 2020, but the question of whether the amendment will be officially recognized is still in debate.

Impact on women using loan products

The Equal Rights Amendment would have formally recognized gender as a suspect classification like race, religion and national origin. This would have opened up many institutions and structures to greater scrutiny to ensure that there is no gender discrimination. This law has always been widely debated, and its future remains uncertain; since this amendment has not been enacted nationally, gender-based inequality in the financial world and in the lending market remains.

1974: The Equal Credit Opportunity Act

The Equal Credit Opportunity Act of 1974 was a turning point for American women and their financial futures. Prior to the ECOA, women generally could not take out loans without a male co-signer, and lenders often charged female borrowers higher interest rates and larger down payment requirements. This law prohibited lenders from requiring male co-signers or treating women differently in any way during the loan process.

Impact on women using loan products

ECOA has helped to open up the loan market to women and give them a better chance of being on an equal footing with men. In the years since the passage of the ECOA, women in the United States have come a long way when it comes to credit. Now, data from Experian shows that women’s and men’s average credit scores are almost identical and that they carry comparable amounts of debt in the form of personal loans, student loans, car loans and home equity lines of credit.

2007: The Great Recession

Women were among the first to lose their jobs during the financial recession from 2007 to 2009, and they were disproportionately impacted by the ensuing mortgage crisis due to being more likely targets for subprime loans. The women are more likely being targeted by predatory lenders, especially low-income women and women of color. These lenders tend to prey on people in times of economic downturn, such as recession.

Impact on women using loan products

The Great Recession and subsequent mortgage crisis left many Americans strapped for cash and drowning in debt. For American women, who were already behind financially and tended to be the first to lose their jobs, this crisis increased the risk of predatory lending and debt.

Today: The future of women and loans

Today, the way men and women use loans differs significantly. American University Research found that women are generally more likely to use loan funds for emergency and practical expenses, while men are more likely to use these funds for luxury expenses. This could explain why, on average, men have 20 percent more personal debt than women.

Student loan debt is the one area where women borrow more than men. According to American Association of University Women 2021 Deeper in Debt Report, female college graduates with higher levels of student debt are more likely to take out student loans and take longer to pay off their balances. After college, women are less likely to choose higher-paying fields of study, such as STEM, and they earn less than their male peers in comparable positions – all factors that make it more difficult to pay off student debt.

There are several things that can be done to further promote gender equity in lending. For a, Studies show that there is a direct correlation between labor market participation and financial inclusion – meaning that the more women participate in the labor market, the more they can participate in the financial world. Opening doors to women in leadership and leadership positions will also help reduce income disparities in the United States and make it easier for women to access affordable credit.

Taking control of your finances as a woman can sometimes seem like an uphill battle, but there are things you can do to defend yourself and resources to guide you. Platforms like Ellevest and smart girl finance providing women with access to courses, coaching and learning resources to help women excel in the financial world.

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As the war enters its third week, the toll of destruction and death mounts. If you just read, here are the latest Russia-Ukraine developments:

Evacuated residents killed: A Russian military strike hit an evacuation crossing on the outskirts of Kiev on Sunday, killing a family with two children and several other civilians trying to flee the Russian invasion, according to the city’s mayor.

Two mortar or artillery shells hit the checkpoint in the suburb of Irpin, northwest of Kiev, Ukrainian authorities said, which has been the scene of intense shelling by the Russian army in recent years. days.

Irpin Mayor Oleksandr Markushyn said eight civilians were killed in the district, and international media filming at the checkpoint reported that a shell landed as a stream of civilians passed.

A fiery Zelensky: Ukrainian President Volodymyr Zelensky has accused Russia of planning “deliberate murder” when bombing Ukrainian territory. Speaking in a Facebook video on Sunday, Zelensky added that “God will not forgive” on “Forgiveness Sunday”.

Zelensky said he had heard nothing from allies on Sunday.

“And I haven’t heard a reaction from any world leader today,” he said. “No Western politician. There are no reactions to this announcement. Think of the occupiers’ feeling of impunity: they announce the planned atrocities. Why?”

Nuclear fears: French President Emmanuel Macron and Russian President Vladimir Putin discussed the safety of nuclear power plants in Ukraine, according to a Kremlin reading of the appeal.

Macron also spoke with Zelensky afterwards, reiterating “the absolute necessity to avoid any attack on the integrity of Ukrainian civil nuclear installations”.

Russia steps up its assault: Russia has fired a total of 600 missiles since the start of the invasion of Ukraine, a senior US defense official said, and Russia has committed about 95% of its accumulated combat power inside Ukraine.

The United States observed continued fighting in Kherson and Mykolaiv on Monday, the official said, and Russian forces are still trying to surround Kiev, Khakhiv and Chernihiv, as well as Mariupol.

Anti-war demonstrations: At least 4,640 people were arrested in Russia on Sunday for taking part in anti-war rallies across the country, according to an independent human rights monitoring group that tracks detentions.

Protesters in St. Petersburg, Russia, were violently beaten by police, videos posted on social media. CNN has geolocated and verified the authenticity of the videos, taken on Sunday evening.

Companies withdraw: Netflix said Sunday it will stop selling and providing its video streaming service in Russia for the time being. Major Hollywood studios have also postponed the release of new films in the country. Earlier Sunday, TikTok and American Express also suspended service in Russia.

CALGARY, Alta., March 7, 2022 /CNW/ – Online Fintech Platform, LendingArch, from Canada 4^and The fastest growing technology company today announced its continued growth and innovation in from Canada Auto credit sector. With over 600 dealers in its highly sought-after network, LendingArch has the ability that very few platforms in Canada have: put consumers directly in contact with their best chances of funding approval and get the vehicle they are looking for.

Farhad Nabian has led LendingArch’s auto loan division since 2015 and is currently one of the most well-known auto loan providers in the industry. “We are pleased to report our continued growth and innovation in the Canadian auto loan market. We are experts in helping consumers find the vehicle they need, regardless of their credit score or personal circumstances,” says Farhad.

LendingArch Platform Is simple. A consumer visits the platform (for free) and requests a no-obligation pre-approval for a car loan. Once that consumer is notified (usually within minutes) that they are pre-approved, they are then matched with the best dealership to meet their needs and requirements. Applicants end up in a new or used vehicle, usually within days of applying to LendingArch. This process takes the hassle out of shopping at multiple dealerships and eliminates the hassle of finding a car they like, only to find out they can’t be approved for vehicle financing.

“What we do for consumers is provide the freedom of choice and a low-stress process for obtaining a car loan,” says Farhad. “Consumers and dealers love using our services because we put the customer first in every aspect. With over 20,000 Canadians apply for a car loan across our division each month, we’ve seen everything from bankruptcies, to self-employed and retired, to prime and subprime clients, who we strive to help through our platform,” says Farhad.

Even in a tight inventory market LendingArch continues to help customers find the vehicle of their choice, uniquely through its extensive dealer network that gives LendingArch access to thousands of vehicles nationwide. LendingArch also provides some of the best leads to car dealerships, as its consumer approach results in a highly-meaning customer with an immediate need to find the vehicle of their choice, whether it’s a SUV, truck, car or van, LendingArch can help you in any case. In Canadacar dealers see LendingArch as the best place to get car loan leadsespecially in a market where digital platforms and online applications are taking over.

LendingArch has proven its ability to provide loans to applicants online since 2015, having helped over 500,000 Canadians through its online platform and continues to work on many new initiatives they have within their extensive business development department. and innovation.

About LendingArch

Established in 2015, LendingArch is part of North America fastest growing loan comparison platforms that allow borrowers to compare rates from multiple lenders, comparing credit card rates, auto loans, personal loans, small business loans and even credit reconstruction services. LendingArch’s platform is free to consumers nationwide. Anyone can apply for a loan through LendingArch, at no cost to themselves.

LendingArch currently serves over 500,000 Canadians, and more than 30,000 new Canadians sign up for LendingArch’s services, including its auto lending division, each month. LendingArch was recently named from Canada 15^and fastest growing company by Report on Business TV and the Globe and Mail, and from Canada 4^and Fastest Growing Company by Maclean’s Magazine and Canadian Business Journal. LendingArch is owned by parent company Consumer Genius Inc. consumer genius has also recently embarked on United States and Australiaproviding similar services to residents of these countries.

SOURCE LendingArch Financial Inc.

For more information: To learn more about the range of lending solutions, or for more information, please visit https://lendingarch.ca or contact [email protected]

WALLKILL, NY —Michael and Robin Kazes have spent more than twenty years knocking on doors to share their faith. In the years leading up to the pandemic, they volunteered their time each week to stand in front of a literature cart at several locations in the heart of downtown Boston. That changed abruptly in the spring of 2020 when Jehovah’s Witnesses suspended in-person public ministry, meetings, and major conventions.

Two years later, residents of Atkinson, New Hampshire are busier than ever. Their volunteer work is now done at home, writing letters and making phone calls to offer comfort and hope from the Bible. However, much of their time is spent in home Bible studies by phone or videoconference. Michael and Robin lead seven Bible studies between them each week. “I spend about 50 percent of my time with Bible students,” Robin said. “I have more students now than I ever had.”

With this historic change, the number of Jehovah’s Witnesses grew by 3% in the United States in 2021 alone, matching the largest increase for the organization in the last decade and the second largest percentage increase since 1990.

“Staying active in our ministry while staying safe has had a powerful preserving effect on our worshipers and communities,” said Robert Hendriks, U.S. spokesman for Jehovah’s Witnesses. “The wise decision not to resume in-person activities prematurely has united us and protected lives while comforting many in need. The results speak for themselves.”

Michael and Robin first had to adapt to this approach. “It was a completely different change,” Robin said. “We didn’t write any letters or phone calls. So it was totally new for us. But not only have they been able to contact more people, those they speak with are more receptive to the Bible’s message, they said. The Kazes now regularly lead seven Bible studies with colleagues, parents and others interested in the message of the Bible.

A woman has responded to a letter Robin wrote to her to express her appreciation. “She wrote me one of the most beautiful letters thanking me and saying how much she appreciated me for taking the time to write,” Robin said. Michael regularly calls an elderly neighbor to encourage her and share a thought from the Bible. “She is always very grateful for my phone calls,” he said.

Last year, the international organization reported unprecedented spikes in the number of people participating in their volunteer preaching work, an increase in attendance at Zoom meetings and more than 171,000 newly baptized believers. In the past two years, more than 400,000 people have been baptized worldwide.

Some whose ministry or attendance at church services had slowed due to age and poor health said they felt invigorated by the convenience of virtual meetings and home ministry.

Like many octogenarians, 88-year-old Sarah Fuoco struggles with memory loss and low energy. Yet she and her 81-year-old husband, Joseph, have been dubbed “the dynamic duo.”

The Fuocos use Zoom to worship twice a week with their congregation in Hollis, New Hampshire, and regularly join online ministry groups to comfort neighbors and family through phone calls, letters, texts and emails. -mails.

“What could have been a disadvantage, we turned it into an advantage,” said Joseph Fuoco. “The fact that we can work directly from home is a great advantage. I’m happy.

By sharing the hope of the Bible remotely, New Hampshire’s nearly 3,500 Jehovah’s Witnesses can quickly preach throughout their state. “Our message is reaching more people than ever before,” said Logan Learned of Litchfield, New Hampshire.

The official Jehovah’s Witnesses website, translated into more than 1,000 languages, has also taken advantage of the organization’s reach.

After starting a free, self-paced Bible course on jw.org in December 2019, Lisa Owen requested a free interactive Bible study on Zoom. She was one of nearly 20,000 people baptized as Jehovah’s Witnesses last year in the United States in private places, including swimming pools, bathtubs and even rivers.

“JW.ORG gave me a place to learn, a place to land and start living the way God wants. It taught me a lot,” Owen said.

To start an online Bible study class, receive a tour, or attend a virtual on-site meeting, go to jw.org.

China said it “will continue to play a constructive role in easing tensions over Ukraine”, after Ukraine’s top diplomat appealed to China’s foreign minister for help in mediating the dispute. a ceasefire during the Russian invasion.

“China always supports and encourages all diplomatic efforts conducive to the peaceful settlement of the Ukrainian crisis, welcomes the launch of peace negotiations between Russia and Ukraine, and hopes that the two sides will continue the process of dialogue and negotiation and seek a political solution that addresses the legitimate security concerns of both sides,” Foreign Minister Wang Wenbin’s spokesman said at a press briefing on Wednesday.

On Tuesday, Chinese Foreign Minister Wang Yi had a phone call with his Ukrainian counterpart Dmytro Kuleba, who said Ukraine is willing to maintain communication with China and “waits for China’s mediation for the realization of a ceasefire,” the Chinese foreign ministry said in a statement.

Wenbin’s comments come a day after China began evacuating its citizens from Ukraine.

Unlike nationals of many other countries, Chinese nationals in Ukraine were not given instructions to leave the country before the Russian invasion began. Prior to Russia’s attack, Chinese officials pushed back on warnings from the United States and its allies that aggressive action by Moscow was imminent.

However, China appeared to change course this week.

Some 400 students based in the Black Sea port city of Odessa and another 200 from the capital, Kyiv, left the country on Monday, according to the public tabloid Global Times, citing the Chinese Embassy in Ukraine. Another 1,000 citizens are expected to be evacuated to neighboring countries on Tuesday, he added.