How to Help Stay-at-Home Spouses Get Credit Cards Without Risking Our Financial Institutions

A regulation requiring proof of personal income in credit card applications has justly been described as “anti-housewife”. The rules hurt the ability of nonworking spouses to access credit and build their own independent credit standing. There is a smart solution to the problem—but it’s not the one currently being proposed by the Consumer Financial Protection Bureau. Before getting to that, a bit of background is in order. In response to the widespread overleveraging th...