Merrill Lynch agrees to settle racial bias suit for $160 million

August 28, 2013   // 0 Comments

Reuters Bank of America Corp's Merrill Lynch unit agreed to pay $160 million to settle a racial bias lawsuit that went through two appeals at the United States Supreme Court, the New York Times reported, citing the plaintiff's lawyer. Longtime Merrill broker George McReynolds filed the lawsuit in 2005 accusing the brokerage of steering blacks into clerical positions and diverting lucrative accou...

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