 TITLE: Financial Inclusion and the LGBTQ Community: Challenges Persist CONTENT: Recognizing Financial Discrimination\n------------------------------------\nFinancial discrimination can show up in various ways for the LGBTQ community. As of now, it's illegal to discriminate against LGBTQ people in marriage and in most housing, employment and health care situations. But issues still exist. For example, the state of Alaska was recently under fire after illegally denying financial benefits to same-sex couples years after marriage equality was passed.\nIt's also important to consider the role of intersectionality in discrimination, says Briona Jenkins, a diversity, equity and inclusion consultant in Austin, Texas, who describes herself as a queer Black woman. \"A lot of the time, people think because we've made such progress in the realm of LGBTQIA+ issues and discrimination, that we're all kind of OK,\" Jenkins explains. \"But I think we forget the intersections of people who are both LGBTQ and people of color, or people who are LGBTQ and have a disability. People who are LGBTQ can be more than one thing at any one time, and we have to overcome so much more—and a lot of that deals with finances.\"\nWhile financial discrimination can appear anywhere, here are some commonly problematic areas to watch out for:\n*   **Access to funding**: There's some good news here. In March 2021, the Consumer Financial Protection Bureau released the updated interpretation of the Equal Credit Opportunity Act making it illegal for lenders to discriminate against a consumer applying for credit (such as loans or credit cards) solely due to sexual orientation or gender identity. While sexual orientation doesn't appear on your credit report or factor into your credit score, that doesn't guarantee you'll be treated fairly by all lenders.\n*   **Name and gender on accounts**: When a transgender or nonbinary person adopts a new name and pronouns, it's psychologically important these are affirmed in all areas of their lives, according to the American Psychiatric Association. However, getting legal documents and identification updated (especially birth certificates) is often a harrowing and expensive process that varies by state. Many financial institutions require legal name or gender marker changes before they will update accounts, which for many LGBTQ people means having financial accounts or cards with the incorrect name. Fortunately, \"more credit card companies and banks are creating system allowances that let trans people use their chosen name,\" says John Auten-Schneider, who runs the personal finance blog Debt Free Guys with his husband David.\n*   **Homebuying discrimination**: In addition to facing discrimination from lenders, it's possible LGBTQ consumers may experience discrimination from real estate agents or sellers in the homebuying process. One way to help reduce this risk is to use a real estate agent who's a member of NAGLREP, an association of LGBTQ real estate agents, since they're familiar with navigating the process for those in the community.\n*   **Insurance denial**: While laws and policies vary by type of insurance, the LGBTQ community has sometimes faced discrimination with life insurance. Auten-Schneider says for those with HIV, there's some progress: \"John Hancock offers life insurance to people who have HIV, and it looks like this may become more common,\" he says.\nLaws and policies are always changing, so be sure to check with the American Civil Liberties Union page dedicated to current LGBTQ rights to stay in the know. END