A former Bank of America employee, Jack Mitchell, is suing the bank for $60 million for racial bias. Mitchell, an African-American, alleges in the lawsuit that BofA "supported and propagated a racially biased and discriminatory business allocation system." Christopher Brennan, Mitchell's attorney, tells us that the system was "akin to apartheid."
"It wasn't an accident, It's a cynical belief on the part of BofA that white customers wouldn't want to receive banking and investment advice from African-American employees, so they assigned them to minority neighborhoods. And because these are in low-income areas, it placed him at a disadvantage compensation-wise because he had less access to high-net-worth clients who are the particular target of his banking area."
Mitchell was fired in July 2008, for what the bank qualified a "clerical error." Brennan however said that Mitchell was fired for speaking out against its discriminatory system.
In an emailed statement, BofA told us: "Bank of America is committed to and has been recognized for creating and supporting a diverse and inclusive workforce. We do not tolerate discrimination."
Mitchell summons and complaint [PDF]