Investigation and pending class action lawsuit against Bank of America, alleging Bank of America systematically discriminates against African-American employees, with particular focus on "Financial Advisors" and "Premier Bankers" jobs titles.
The class action lawsuit charges that Bank of America engaged in the following acts:
(1) Bank of America regularly discriminated against African-American Financial Advisors and Premier Bankers with respect to territorial and work assignments, training and access to financial accounts.
(2) Bank of America partnered African-American employees only with other African-American Financial Advisors and Premier Bankers and have been disproportionately "steered" to sales territories which are largely minority and/or low net worth.
(3) Bank of America also does not provide adequate support or resources to African-American Financial Advisors and Premier Bankers when those employees solicit business from potential African-American clients.
(4) Bank of America promoted less qualified Caucasians and denied promotions to more qualified African-Americans. Bank of America failure to promote qualified African-American employees to higher levels results in a "glass ceiling" preventing African-Americans from achieving upward advancement to senior levels at Bank of America.
(5) Bank of America engaged in a pattern of retaliation designed to deter African-American from objecting to the Bank of America's discriminatory policies and practices. Bank of America retaliated against class members by terminating class members and denying class members opportunities for promotion or transfer after such persons have exercised their civil rights by objecting to Bank of America's discriminatory policies and practices.
Name (Stock Symbol)
Bank of America N.A. (BAC)
Bank of America N.A. is one of the largest banks in the world offering a complete menu of financial services to consumers and businesses worldwide.
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