In "Breaking Barriers: Women's Financial Freedom," Yahoo Finance reporter Kerry Hannon brings a panel of experts together to discuss the 50th anniversary of the Equal Credit Opportunity Act. Here, Bank of America head of workplace benefits, Lorna Sabbia, shares her thoughts on women's financial progress since the ECOA was passed.

"Even after 50 years, have we moved the needle?" asks Hannon.

"Yes, but there's more work to be done," says Sabbia. "Just because of this act, I have a bank account. I have my own credit score. I'm empowered now to use financial planning tools. I'm confident about investing."

Sabbia says that women today are "outpacing their male counterparts as it relates to earning college degrees," which also leads to higher-paying jobs. Yet the pay gap hasn't moved far in Sabbia's lifetime, and the savings gap is just starting to close.

She notes that baby boomer males' 401(k) accounts "on average are 87% higher than their female counterparts. For Gen X, it's 53%. For millennials, it's 23%."

"That's great progress," Sabbia says, "but there's more to do for sure."

Watch the full panel here.

This post was written by Meredith Lawrence.