Wells to pay millions in discrimination case
Wells Fargo will pay $7.8 million in back wages to settle accusations from the federal government that it discriminated against tens of thousands of Black and female job applicants, the U.S. Department of Labor said.
It alleged that the bank discriminated against 34,193 Black applicants for banking, customer sales and service and administrative support roles, the agency said late Monday.
The department’s Office of Federal Contract Compliance Programs also alleged that the bank discriminated against 308 female applicants for administrative support jobs. The agency did not provide details about the alleged discrimination.
The San Francisco bank did not admit liability as part of the agreement it reached with the government to resolve the accusations. But it also agreed to provide job opportunities to 580 impacted applicants, and plans to take measures to ensure its hiring policies comply with federal regulations, according to the release.
In a statement, bank spokesman Peter Gilchrist said the agreement pertains to a routine review of hiring data from six to 10 years ago in a small number of locations.
The labor department alleged that Wells Fargo violated a law that bans federal contractors from employment discrimination based on race, color, religion, sex, national origin, sexual orientation or gender identity.
The bank contracts with federal agencies, including the Securities and Exchange Commission and U.S. Department of Veterans Affairs.