FX.co ★ Bank of America pays $40 Mln to settle gender discrimination case

Lawyers of Bank of America do not plan to file an appeal and litigate the court’s decision to pay a $40 million fine. This is the sum the financial institution’s administration have to pay according to the lawsuit over gender discrimination. The women are sure their rights were systematically violated by the companies. Consolidating their efforts the women brokers have filed the lawsuit describing the cases of discrimination. In the stated claims there were accusations of women’s discrimination in terms of salaries and professional opportunities. The bankers had to come to terms with the complainants and conclude an agreement with the representatives of women’s opposition who worked as financial advisers in Bank of America Investment Services and Merrill Lynch from 2007 to 2013. As a result, approximately 4,800 female employees may expect compensation. According to the project’s draft, an independent consultant will examine the bank’s activity for two years. His major aim is to improve career opportunities for women. At the moment the sides are waiting for the agreement to be adopted by the court.