Benefits May 18, 2007

Bank of America Sued for Race Discrimination

May 18, 2007 (PLANSPONSOR.com) - Five black current and former employees of Bank of America Corp. filed a discrimination suit Thursday against the bank, alleging that it assigns its black employees to primarily minority neighborhoods and low net-worth accounts.
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The 29-page discrimination complaint filed in the U.S. District Court in Boston alleged that white employees got the most lucrative clients, Reuters reported.

In addition, the plaintiffs accused the North Carolina-based bank of discrimination against blacks with regard to pay, promotions, training and support services.

The plaintiffs claim that when they complained to the bank that the big contracts were going to their white counterparts, the bank said that it believed that the clients were more “comfortable dealing with bankers and brokers of their own race,” according to Reuters.

Currently the complaint includes five plaintiffs who work, or have worked, for the bank in the Atlanta, St. Louis and south Florida areas, but it is seeking class-action status.

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