A pair of former Bank of America and Cantor Fitzgerald have filed lawsuits against the finance giants, claiming the companies practiced discrimination in the allocation of business and clients in one case, and racial harassment in the other.
The two lawsuits, both filed on Friday, include one asking for $10 million in damages.
From Reuters, via the Huffington Post:
Jack Mitchell, who is black and worked as a manager at Bank of America from February 2007 to July 2008, alleges the bank maintained an “apartheid” system of business allocation, believing white clients would not want to be served by African American employees.
Under this system, Mitchell alleges, employees such as himself were routinely assigned to branches in low-income black communities, negatively affecting his compensation. Mitchell claims he was fired in retaliation for complaining about “the bank’s racist practices.”
Bank of America spokesman Bill Halldin declined to comment on the suit but said that “diversity and inclusion are part of Bank of America’s culture and core values.”
Read more at the Huffington Post.