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August 30, 2013

Merrill Lynch to Pay $160 Million in Largest Racial Discrimination Settlement Ever 
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The brokerage firm Merrill Lynch has agreed to pay $160 million in the
largest racial discrimination settlement ever. Eight years ago, a group
of African-American financial advisers sued Merrill Lynch alleging their
bosses segregated the workforce by steering African-American brokers
into clerical positions and reassigning their accounts to white workers.
More than 1,200 current and former Merrill Lynch employees could be
eligible to take part in the settlement.

 

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