The class action suit alleges that women brokers at the bank were eligible for smaller bonuses
Bank of America has reportedly been sued in a New York federal lawsuit accusing the biggest American bank of discriminating against female brokers by offering them lower retention bonuses than their male equivalents.
The suit, which seeks class action status, alleges that women brokers at Merrill Lynch were eligible for smaller bonuses because big, wealthy clients were typically steered towards male brokers, reported the Reuters news agency.
Bank of America announced it would buy Merrill in September 2008 for $50bn. The deal was finalised in January this year.
The case was brought in a Manhattan federal court by Jane Goodman, who worked as a Merrill broker for 16 years prior to this year’s merger.
