Tuesday, March 30, 2010

WOMAN? Not so equal after all.

NEW YORK (AP) - Bank of America Corp. and Merrill Lynch have made female employees "second-class citizens" by purposely giving their male counterparts opportunities to make more money, according to a gender discrimination lawsuit filed Tuesday.

The suit brought in federal court in Brooklyn by two former Bank of America financial advisers and one current Merrill Lynch broker accuses upper management of favoring men over women by giving them bigger bonuses and "plum business opportunities" that "groomed them for success."

The women also allege that the companies sought to punish them when they complained about the inequalities. One claims that after she protested, she was yelled at and ordered to seek pre-approval when expensing business lunches - something men never had to do.

"Beneath the veneer of a world-class financial institution, the defendants treat their female financial advisers as second-class citizens," the complaint says.

The suit seeks back pay and unspecified damages. It also asks the court for class-action status.

A spokeswoman for Bank America, Shirley Norton, released a statement denying allegations and said the bank will "vigorously defend against the claims."


  1. How convenient that the spokesperson is a woman.

  2. Of course it is. If she didn't do her part to "vigorously defend against the claims.", she find herself back in the steno pool, or cashing checks with the newbie tellers...

  3. Yep, Edith Ann, and I thought it interesting that the word "Spokeswoman" was used in the article, not "Spokesperson". Sometimes we really haven't come a long ways, Baby, after all, have we?

    It's like we are in a time warp, when "the gentler sex" is concerned. It's all well and good to promote the mistresses of "Tiger" and "Jesse" as powerhouses, but then they didn't get to choose their positions or places for "board meetings" did they?

  4. This doesn't surprise me at all. Women are always treated as second class citizens in the financial and corporate worlds.

  5. Unbelievable in this day and time. I have heard it said, and I wish I could remember by who, as a twist on the old adage: We HAVEN'T come a long way, and DON'T call me baby!!

    I guess that sums it up. But just to inaugurate my new position tomorrow, I have half a mind to have my male employee fetch me that cup of coffee. No, I won't do that. But I COULD. And that, my friend, is SUCCESS.

    If these allegations are true, I hope BAC and ML is squeezed out of every thin dime that would have gone to their MALE executives' salaries to compensate these women.