V. Bank Of America Corp Essay - 935 Words

All companies with greater than 15 employees in the United States must adhere to Title VII of the Civil Rights Act of 1964. This act prohibits discrimination in employment-related matters and is administered by the Equal Employment Opportunity Commission (EEOC) (Canas Sonkak, 2014). In Calibuso et al. v. Bank of America Corp. et al. Judy Calibuso filed a complaint against Bank of America with the EEOC in January 2007. Case Law Overview Calibuso et al. v. Bank of America Corp. et al. was a gender case that was filed in U.S. District Court, Eastern District of New York in 2007. Five women filed a lawsuit alleging that Bank of America and Merrill Lynch intentionally discriminated again them by awarding pay, client allocation, referrals, professional and marketing support to male brokers (Stempel, 2013). In addition, the bank was accused of retaliating against female brokers who complained and providing a cumulative advantage that widened earnings disparities between genders (Stempel, 2013). The bank agreed to settle the claim for $39 million and the award was payable to 4,800 current and former female financial advisors and trainees at Bank of America and Merrill Lynch specifically. However, with the settlement, the bank did not admit any wrongdoing and provided a statement that the settlement will enrich our existing diversity, inclusion and development programs, providing even more opportunities for women to suc ceed as financial advisers (Bank of America, 2013).Show MoreRelatedThe Case Of Calibuso Et Al V. Bank Of America Corp Essay1563 Words   |  7 PagesThe case of Calibuso et al. v. Bank of America Corp. et al. began in 2010, when female financial analysts (FAs) filed charges in in several states and with the Equal Employment Opportunity Commission (EEOC) claiming that the Bank of America (BoA) used discriminatory pay practices against them in violation of state laws and the U.S. Equal Pay Act of 1963 and Title VII of the Civil Rights Act of 1964 (DiMarco, 2014; Calibuso, 2012). These laws forbid inequalities in pay (Schrimsher Fretwell, 2012)Read MoreDiscrimination At The Modern Civil Rights Era Essay1539 Words   |  7 Pagesmore open to one’s interpretation (Canas Sondak, 2014). One example of a recent discrimination case is of Calibuso et al V. Bank of America Corp. et al. Nature and Brief of the Case This particular case began in 2010 when a group of female financial advisors, which was led by Judy Calibuso, who filed a complaint of alleged systemic discrimination against Bank of America who had just acquired the Merrill Lynch unit (Dimarco, 2014). 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