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African American advisersPBS
•74% Informative
Merrill Lynch has agreed to pay nearly $20 million to settle a class-action lawsuit that accuses the Wall Street brokerage giant of racially discriminating against its Black financial advisers.
The lawsuit alleges that African American advisers employed by Bank of America -owned Merrill received less compensation and promotions than their white counterparts.
The case alleges that this was a result of discriminatory practices at the company, which included a broader lack of support and inequitable teaming opportunities.
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