BofA’s Merrill to settle racial bias suit for $160 million

Via Amanda Becker WASHINGTON (Reuters) – Brokerage agency Merrill Lynch has agreed to pay $one hundred sixty million to settle a category-action race discrimination lawsuit introduced by means of a longtime U.S. worker, an attorney for the plaintiffs verified on Wednesday. Greater than 1,200 current and former Merrill Lynch staff will be eligible to take part within the contract, one of the vital greatest sums acquired from an organisation in a race bias lawsuit. For the reason that lawsuit was once filed in 2005, Merrill Lynch was received by using Bank of America Corp , the place it’s now the financial institution's wealth management unit. …