Wells Fargo to Pay $7.8 Million to Workers to Settle Hiring Discrimination Charges

August 26, 2020

Wells Fargo Bank has agreed to pay $7.8 million in back wages and interest to resolve allegations of hiring discrimination.

The U.S. Department of Labor’s said it has entered into an agreement with the financial institution over charges that Wells Fargo discriminated against 34,193 African American applicants for banking, customer sales and service, and administrative support positions at U.S. locations nationwide and against 308 female applicants for administrative support positions.

While not admitting liability in the investigation, Wells Fargo volunteered to the agreement to “enhance future compliance proactively,” according to the department.

The department said executive orders prohibit federal contractors from discriminating in employment based on race, color, religion, sex, national origin, sexual orientation or gender identity.

In addition to paying the back wages and interest, the department said the bank also agreed to provide 580 affected applicants with job opportunities as tellers, personal bankers, customer sales and service representatives, and administrative support positions.

Source: Department of Labor

Was this article valuable?

Here are more articles you may enjoy.