Law Forum : JPMorgan Will Pay $24 Million to End Lawsuit From Black Advisers

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  1. Clyde C Coger Jr

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    JPMorgan Will Pay $24 Million to End Lawsuit From Black Advisers


    https://finance.yahoo.com/news/jpmorgan-pay-24-million-end-090000691.html

    JPMorgan Will Pay $24 Million to End Lawsuit From Black Advisers

    As racial diversity tumbles on Wall Street, JPMorgan Chase & Co. has reached a settlement with financial advisers who say they were treated poorly because they’re black. Six current and former employees at the largest U.S. bank filed what they...
    finance.yahoo.com

    ...Six current and former employees at the largest U.S. bank filed what they asked to be a class action, alleging discrimination that’s “uniform and national in scope.” Instead of fighting it in court, the bank agreed to pay $19.5 million to the members of the class, according to Aug. 31 filings; it will also put $4.5 million into a fund that will back recruitment, bias training, a review of branch assignments and a coaching program for black advisers.

    [​IMG]

    Max Abelson
    Bloomberg

    [​IMG]
    Signage is displayed outside a JPMorgan Chase & Co. office building in New York, U.S., on Wednesday, April 11, 2018. JPMorgan Chase & Co. is scheduled to release earnings figures on April 13

     
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