Bank Of America Agrees To Pay $4.2M Over Alleged Discrimination

Kevin Mwanza
Written by Kevin Mwanza
broadband speeds Bank of America
Black, Latino and female job applicants have allegedly been discriminated against by the Bank of America. Photo by Rebrand Cities from Pexels

Bank of America has agreed to pay $4.2 million in back wages and interest after the U.S. Department of Labor found evidence of “alleged hiring discrimination” against job applicants from minority Black, Latino and female applicants.

The Department of Labor’s Office of Federal Contract Compliance Programs said the bank minorities were discriminated against when applying for phone representative, client service, mortgage underwriter, phone sales and sales specialist positions at the bank.

The alleged discrimination was evident in various states including New Jersey, Florida, Georgia, and Texas.

Bank of America disagrees with allegations

Bank of America said it did not agree with the allegations and is confident that its hiring practices were appropriate.

“These reviews occurred between six and 10 years ago in a small number of offices. We decided it was best to put this matter behind us by reaching this resolution,” BofA said.

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Bank of America has paid more than $210 million in disclosed settlement agreements to resolve discrimination claims since 2000, according to a report by advocacy group Good Jobs First.

Other corporations like Dell and Goldman Sachs were also found to have engaged in similar discrimination practices and were charged to the tune of $20 million cumulatively.

Bank of America, Dell and Goldman Sachs have each been the subject of prior discrimination claims.