Nisha Desai, an Asian American businesswoman and founder of Andav Capital, has filed a lawsuit against PayPal, alleging racial discrimination in the company's $535 million investment program announced in June 2020. The program was designed to support Black and minority-owned businesses but allegedly excluded Asian Americans. Desai claims she was denied funding after spending over a month seeking investment, while PayPal invested $100 million in 19 venture capital firms led by Black and Hispanic managers. The lawsuit, filed in Manhattan federal court, accuses PayPal of violating the Civil Rights Act of 1866 and New York state and city human rights laws by restricting funding based on race. Desai seeks unspecified damages and an injunction to prevent PayPal from considering race and ethnicity in its investment decisions.
Venture Capitalist Sues Paypal Over Program for Minority Startups https://t.co/dQPRJCNQU9
The Consumer Financial Protection Bureau has sued Walmart and work scheduling platform Branch Messenger for allegedly forcing delivery drivers that are part of the discounter’s gig program to use costly deposit accounts to get paid. https://t.co/iqoUYkBsc5
PayPal accused of racial bias against Asian Americans https://t.co/gdYkqg7BQR