425 Business: Taking a Seat at the Table

CWM President Shilo Lockett recently spoke with 425 Business about the historic and systemic reasons women have been left out of conversations around finances, and how we as a society can break this cycle. As an empowered female leader in an industry historically dominated by men, Shilo feels strongly that women have a responsibility to participate in the financial discussions taking place in their families, and to model and normalize this involvement for future generations.

Less than 50 years ago, women were not legally able to open a bank account or receive a business loan without a male co-signer. The Equal Credit Opportunity Act of 1974 and the Women’s Business Ownership Act of 1988 changed that reality and were monumental moments in history, transforming female entrepreneurship and financial rights for women.

That lack of legal voice forced a historic and generational dependency on male counterparts to be the ones managing and controlling finances. Today, in a world where women can start their own businesses, manage their own business loans, and own property, they face a new problem. Suddenly, opportunity is everywhere and resources are abundant, yet the specter of generational exclusion from financial conversations lingers.

Read the full article in 425 Business.

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