‘We stand and we resist’ says head of Brazil’s first LGBT+ bank

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11/14/2019

The head of Brazil’s first bank for gay and trans people said on Thursday that he aimed to tap into an overlooked market, combat prejudice and support social issues that matter to LGBT+ people. Marcio Orlandi Jr., chief executive of Pride Bank, which launched in beta testing mode this week, said other banks were failing to cater to an important segment of the economy. “There are so many capable people that could be making money, and making the economy greater but they’re not doing it,” Orlandi Jr. told the Thomson Reuters Foundation, adding the bank may add health insurance and travel agency services in future. “We want to make sure that this bank is not just another bank, but a bank that really looks to its community … Making sure that we stand and we resist is really important.” A growing number of businesses are targeting LGBT+ customers as evidence emerges that discrimination costs billions. LGBT-friendly Superbia Credit Union is set to launch in the United States next year after winning approval from Michigan state.

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