Mass. startup streamlining name changes for trans, non-binary residents
A guy in America wants to buy a truck. They save money. They have built up good credit. They find a truck in their price range.
They go to the dealership to buy it, but when the dealership puts the guy’s name through the system no credit shows up. The problem?
That guy is trans and had recently changed their name. “Due to the name change, I was credit invisible,” Luke Lennon explained. “This can happen often for trans and non-binary folks who change their name.” The kicker? “That piece is not the same for folks that change their name due to marriage.” This is structural, not accidental, explains Lennon, who uses he/they/any pronouns. While name changes for marriage are accommodated by financial systems, “if you’re trans, you have to notify each creditor of your name change individually.” It is an equity problem: “For a community that already faces huge barriers to wealth building, this is a major issue.” Lennon opted out of the truck.
Without the financing options made available by good credit, the vehicle was outside of their price range. “I was getting just near predatory rates for loans at that point,” he says.
