Economics/Class Relations

‘The Meltdown of a Gay Bank’

By on • ( Leave a comment )

— Nick Summers, features editor, New York

It was a solid idea for a start-up: an online bank for the LGBTQ+ community, offering specialized loans, revenue-sharing deals with queer-friendly businesses, and payment cards bearing any name customers wanted. (No more seeing your deadname every time you swipe.) The company was called Daylight, and its staff — nearly half of whom identified as trans or nonbinary — thought it was full of potential. “If you let me do what I know how to do, we will all be very, very rich and very, very gay,” one of those workers said. But as New York’s Jen Wieczner reports in this fairly scandalous feature, Daylight turned into a catastrophe full of jaw-dropping misbehavior and transgressions. Now, three employees are suing in federal court, alleging fraud and discrimination. They kept receipts, and they’re all in this story.
The Meltdown of a Gay Bank What went wrong when an LGBTQ+ start-up set out to disrupt finance.
Photo-Illustration: Intelligencer; Photo: Getty Images
Read the full story
Enjoying One Great Story? Subscribe now for unlimited access to everything New York.
More From Today
Immediately after Donald Trump’s indictment, Michael Cohen claimed he didn’t really mean his guilty plea. On Intelligencer, Ankush Khardori examines how Cohen’s waning credibility is already undermining the case against the former president.
Read More »
Nothing — not dead rats, not the shame of farting in front of his colleagues — can stop Ken Marino from doing anything for comedy, writes Vulture’s Jen Chaney in her profile of the Party Down star.
Read More »
On the Cut, Michael Waters reports on how those with upwards of $600 an hour to spare are increasingly making like Brangelina and hiring private judges to field their divorces in secret.
Read More »
Introducing The City Desk, a weekly newsletter about New York. Sign up to get it every Thursday.
get the newsletter

Categories: Economics/Class Relations

Leave a Reply