The days of women needing a male-cosigner for loans/credit may be back thanks to Trump [View all]

[New Breed Leader]

https://www.msn.com/en-us/news/us/trump-executive-order-raises-alarm-over-women-s-financial-independence/ar-AA1DysKJ?ocid=socialshare&pc=HCTS&cvid=1176303e7388498bb129f8479f8a9a5c&ei=16

An Executive Order (EO) signed by President Donald Trump is raising concerns over the protection of women's financial independence, as well as other potential civil rights violations.

The EO, titled Restoring Equality of Opportunity and Meritocracy is intended to encourage "meritocracy and a colorblind society, not race- or sex-based favoritism."

It calls for an evaluation of all pending proceedings under the Equal Credit Opportunity Act (ECOA), which was first passed in 1974 and amended in 1976 to prevent lenders from discriminating against women based on marital status.

Although the EO cannot change the law, that can only be done by an act of Congress, if independent federal agencies abide by the order they will stall litigation protecting women from being discriminated against for credit, and they will roll back guidance and regulations which were in place to protect people's rights.